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Nvidia Market Cap Crosses $3 Trillion for the First Time, Surpassing Apple – IGN

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Nvidia Market Cap Crosses  Trillion for the First Time, Surpassing Apple – IGN

Nvidia is now a $3 trillion company – and the second-most-valuable company in the U.S. stock market.

As CNBC reports, Nvidia shares closed today up 5% to $1,224.40, giving the company a market cap of $3.01 trillion for the first time in its history. That puts it just ahead of Apple with its $3 trillion, making it the second-largest public company behind Microsoft, which has a market cap of $3.15 trillion.

Nvidia has seen phenomenal growth in the last few years, thanks in large part to its leadership in the AI race, becoming a leading chip supplier for companies looking to delve into the technology. According to CNBC report from earlier this week, the company’s AI accelerators have between 70% and 95% of the market share for artificial intelligence chips.

Nvidia is now a $3 trillion company.

In turn, Nvidia’s market cap has rapidly skyrocketed over the last two years in particular. The tech company, best known for its gaming and graphics GPUs, reached a market cap of $2 trillion just this past February, becoming the first chipmaker to reach the milestone. That came less than a year after it hit the $1 trillion mark in May 2023.

To put it in perspective: as CNBC points out, Nvidia stock has soared more than 3,224% over the past five years, and it shows no signs of slowing down. The company reported first-quarter earnings of a whopping $26 billion last month, more than triple its earnings from the same period a year ago.

The company announced last month that it plans to release a new AI chip once per year, an increase from the previous twice-a-year cadence.

Alex Stedman is a Senior News Editor with IGN, overseeing entertainment reporting. When she’s not writing or editing, you can find her reading fantasy novels or playing Dungeons & Dragons.

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