Nvidia Surpasses Apple With $3 Trillion Market Cap

June 8, 2024

Nvidia, a major chipmaker for artificial intelligence based in Santa Clara, recently reached a major milestone by raising its market value to $3.019 trillion, which is higher than Apple’s $2.99 trillion and just below Microsoft’s $3.15 trillion. Nvidia is now the second-largest publicly owned company in the US. It joins Apple and Microsoft as the only companies in the world to have a market value of $3 trillion. The price of Nvidia stock went up a lot—by 5.2% to about $1,224.4 per share. This helped major markets like the S&P 500 and Nasdaq reach new highs.

Nvidia’s Progress in 2023

Nvidia has led the rise in artificial intelligence on Wall Street. Its stock price has gone up 147% this year, after going up 239% in 2023. Nvidia’s strong place in the AI semiconductor market—where it makes about 70% of all sales—is driving this amazing growth. This is a lot more than Apple’s small 1.7% gain during the same period.

Introduction of New AI Chip Platforms

CEO of Nvidia said that the company will release Rubin, its most powerful AI chip platform, in 2026. Blackwell was called the “world’s most powerful chip” when it came out in March 2023, and this new platform will take its place. These changes show that Nvidia is still dedicated to new ideas and is the leader in offering cutting-edge technology for data centers and other uses. Nvidia has announced a big 10-for-1 stock split that will make its shares easier for individual investors to buy. This will make the company even more appealing to investors. This move should make it easier for people to start investing in Nvidia. On June 10, shares that have been split will begin selling.

More About Nvidia

Nvidia was started by Jensen Huang, Chris Malachowsky, and Curtis Priem in 1993. It started out as a company that made computer chips. Not many people know this, but Nvidia came up with the term GPU (Graphics Processing Unit) when the GeForce 256 came out in 1999. The name of the business comes from combining the Latin word for envy, “invidia,” with the word for “video.” It’s interesting that Nvidia went beyond graphics and into AI, making important advances like the CUDA architecture in 2006, which made parallel computing better. GeForce Now and the Shield line from Nvidia have also changed the way people play games. When they tried to buy ARM Holdings in 2021, it failed because of problems with the government. Nvidia has taken environmental action that is unique in its business. This is shown by its AI for Climate initiative, which aims to use AI to help solve climate problems.

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