Nvidia surpassed Apple in market capitalization in June 2024 amid the artificial-intelligence boom. Strong demand for Nvidia’s data-center GPUs pushed its share price sharply higher and lifted the company briefly into second place behind Microsoft.
Nvidia designs graphics processors and related computing platforms used to train and run artificial-intelligence systems. Its CUDA software ecosystem and specialized data-center products helped make the company a central supplier for large AI workloads.
Nvidia’s rise was unusually rapid. It passed $1 trillion in market capitalization in 2023 and reached $3 trillion in 2024. A ten-for-one stock split took effect in June 2024, reducing the per-share price while leaving shareholders’ proportional ownership and the company’s overall market value economically unchanged.
Market-cap rankings can change quickly, and Nvidia later moved above other technology leaders at different points. The June 2024 ranking reflected investor expectations about AI infrastructure demand rather than a permanent order among the companies.