Nvidia reached a $3 trillion market capitalization in June 2024, driven largely by demand for artificial-intelligence chips.
Nvidia briefly surpassed the $3 trillion level on June 5, 2024, after its stock price rose sharply. The company designs graphics-processing units, or GPUs, that are widely used for training and running AI models. Its CUDA software platform also helped developers build applications for Nvidia hardware, making the company’s ecosystem especially influential in accelerated computing.
The surge followed years of investment in data-center computing and a rapid expansion of generative AI. Nvidia’s valuation rose much faster than its historical reputation as primarily a video-game graphics supplier might suggest. Gaming remained important, but data-center products became the dominant source of growth.
Nvidia’s market capitalization later moved above and below $3 trillion as its share price changed. Its achievement placed it alongside Apple and Microsoft among the most valuable publicly traded companies.