Nvidia Reaches Historic Milestone with $3.113 Trillion Market Cap, Surpassing Apple and Microsoft in AI and Data Center Dominance
Jun 18, 2024
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).
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