Nvidia became the first semiconductor company to exceed a US$3 trillion market capitalization after an AI-driven share-price surge in 2024.
Nvidia’s valuation rose sharply because its graphics-processing units became central infrastructure for training and running generative-artificial-intelligence systems. Major technology companies invested heavily in data centers, increasing demand for Nvidia’s chips, networking equipment, and software ecosystem. Nvidia passed the $3 trillion level in June 2024 and briefly ranked above Apple by market value.
The company was founded in 1993 by Jensen Huang, Chris Malachowsky, and Curtis Priem. It first became famous for graphics processors used in personal computers and video games. Its CUDA software platform later helped researchers and engineers use Nvidia hardware for parallel computing, including machine learning.
Nvidia is a chip designer rather than a conventional chip manufacturer: companies such as TSMC fabricate many of its leading processors. That distinction is often missed. The market-cap milestone measured the value of Nvidia’s listed shares, not the value of all semiconductor production using its designs.