Nvidia became the third company to surpass a $3 trillion market capitalization.
Nvidia crossed $3 trillion in June 2024, after a powerful rise in its share price driven by demand for graphics processing units used in artificial-intelligence computing. The milestone followed Apple and Microsoft, which had already reached the same valuation range.
Nvidia began as a graphics-chip designer for computer games, but its programmable GPU architecture became especially valuable for machine learning. Its CUDA software ecosystem helped developers use Nvidia hardware for scientific computing and AI workloads, strengthening the company’s position beyond ordinary PC graphics.
The company’s market value rose rapidly even though market capitalization does not equal sales or cash. Nvidia also completed a ten-for-one stock split in June 2024; the split changed the per-share price but did not by itself change the company’s total market capitalization. Investors still valued the business by multiplying the adjusted share price by shares outstanding.