Nvidia overtook Microsoft to become the world’s most valuable public company by market capitalization on June 18, 2024.
Nvidia’s ascent was powered by demand for its data-center graphics processors, which are widely used to train and run generative artificial-intelligence systems. Its revenue and profits grew rapidly as technology companies invested in large AI computing clusters.
The leadership change illustrates how rankings by market capitalization can change quickly. A company’s position depends on both its share price and its number of outstanding shares, so even a small percentage move in a huge company can shift the global order.
Nvidia’s position was not permanent: market-cap rankings continued to change as technology shares moved. The question refers specifically to the June 2024 event, rather than claiming that Nvidia has held the top position continuously.