Nvidia first reached a $3 trillion market capitalization in June 2024 after a surge tied to AI chips.
Nvidia crossed the milestone on June 5, 2024, as investors continued to price in enormous demand for the processors used in artificial-intelligence systems. Its graphics processing units, or GPUs, became essential infrastructure for training and running many large AI models.
The company began in 1993 as a specialist in computer graphics and gaming hardware. Its CUDA software platform later helped developers use Nvidia GPUs for general-purpose computing, giving the company an important position in data centers as well as gaming.
Nvidia’s rapid rise also illustrates why market-cap rankings can change quickly. Stock splits alter the number and price of shares, but they do not by themselves change the company’s total market value.