Nvidia reached a $2 trillion market capitalization in February 2024, becoming the first chipmaker to do so.
The company crossed the $2 trillion level on February 23, 2024, after reporting results that reinforced investor expectations for exceptional demand for AI accelerators. Nvidia’s data-center business had become much larger than its traditional gaming business, with cloud providers and other technology companies buying large quantities of its computing systems.
Nvidia had passed $1 trillion in May 2023 and therefore doubled its market value in less than a year. The rise was tied not only to chip performance but also to Nvidia’s software ecosystem, networking products, and close relationships with major AI developers.
The milestone concerns market capitalization, not revenue or profit. It also does not mean Nvidia was the first company of any kind to reach $2 trillion; Apple, Saudi Aramco, Microsoft, and Alphabet had reached comparable valuations earlier.