Nvidia surpassed Apple as the world’s most valuable company in June 2024.
Nvidia’s market capitalization briefly moved above Apple’s on June 18, 2024, after a powerful rise in its share price. Investors were placing exceptional value on Nvidia’s role in supplying GPUs and related technology for generative artificial intelligence.
The ranking was not permanent: market capitalization changes whenever share prices move, and companies can exchange positions repeatedly. Nvidia’s rise followed its earlier entry into the US$1 trillion and US$2 trillion valuation groups.
Nvidia’s business is sometimes described simply as graphics-card manufacturing, but its modern operations also include data-center hardware, networking, AI software, and platforms for developers. That broader role helped explain its rapid change in market ranking.