Nvidia passed Apple to become the world’s second-most valuable public company in June 2024.
Nvidia overtook Apple on June 5, 2024, after its share price surged following exceptional demand for its artificial-intelligence computing products. At that point, only Microsoft had a higher market capitalization among public companies.
Nvidia designs graphics processing units and related systems used in data centers, gaming, professional visualization, and artificial-intelligence applications. Its GPUs became especially important for training and running large machine-learning models.
The company’s market value rose rapidly as investors anticipated continued growth in AI infrastructure. Nvidia later completed a ten-for-one stock split in June 2024, which reduced the per-share price but did not by itself change the company’s total market capitalization.