Nvidia overtook Microsoft to become the world’s most valuable company in June 2024.
Nvidia briefly moved into the top market-cap position on June 18, 2024, when its value reached about $3.34 trillion. Microsoft and Apple were close behind, so the ranking changed repeatedly as their share prices moved.
Nvidia’s rise was driven largely by demand for its graphics processing units, or GPUs, used in artificial-intelligence computing and data centers. Its CUDA software platform and specialized AI hardware helped make Nvidia a central supplier for training and running large machine-learning systems.
The company began as a graphics-chip designer for personal computers and video games, rather than as an AI company. Its later expansion into professional visualization, automotive technology, cloud computing, and accelerated computing broadened its business. Nvidia’s stock split ten-for-one in June 2024, which reduced the per-share price while leaving shareholders’ proportional ownership and the company’s market capitalization unchanged.