Articles

Blogs

Nvidia Reaches Historic Milestone with $3.113 Trillion Market Cap, Surpassing Apple and Microsoft in AI and Data Center Dominance

Jun 18, 2024

Nvidia Reaches Historic Milestone with $3.113 Trillion Market Cap, Surpassing Apple and Microsoft in AI and Data Center DominanceNvidia Reaches Historic Milestone with $3.113 Trillion Market Cap, Surpassing Apple and Microsoft in AI and Data Center Dominance
Nvidia Reaches Historic Milestone with $3.113 Trillion Market Cap, Surpassing Apple and Microsoft in AI and Data Center DominanceNvidia Reaches Historic Milestone with $3.113 Trillion Market Cap, Surpassing Apple and Microsoft in AI and Data Center Dominance
Nvidia Reaches Historic Milestone with $3.113 Trillion Market Cap, Surpassing Apple and Microsoft in AI and Data Center DominanceNvidia Reaches Historic Milestone with $3.113 Trillion Market Cap, Surpassing Apple and Microsoft in AI and Data Center Dominance

As of June 2024, Nvidia has achieved a market capitalization of approximately $3.113 trillion, making it the third most valuable publicly traded company globally, following Microsoft and Apple​ (Stock Analysis)​​ (CompaniesCap)​​ (YCharts)​. Nvidia's rise has been propelled by its dominance in the AI and data center markets, supplying around 80% of AI chips used in high-end data centers​ (Investopedia)​.The company's stock is currently trading around $126.57 after a 10-for-1 stock split, which was intended to make its shares more accessible and potentially facilitate inclusion in the Dow Jones Industrial Average​ (CompaniesCap)​. Nvidia's AI chips are integral to the infrastructure of major tech giants such as Google, Amazon, and Microsoft​ (Stock Analysis)​.Founded in 1993 as a gaming company, Nvidia has significantly evolved, now driving innovations in artificial intelligence and high-performance computing​ (Investopedia)​. The company reported strong financial results with $26 billion in revenue for Q1 2024, primarily from its data centre segment​ (Investopedia)​. CEO Jensen Huang has indicated that Nvidia will continue to release new AI chipsets annually, highlighting the company's commitment to maintaining its technological edge​ (Investopedia)​.