Nvidia's market value has soared past $3 trillion, surpassing Apple to claim the spot as the world's second most valuable publicly listed company.
The chip giant's shares rose over 5% on Wednesday, June 5, reaching over $1,224.
The quick rise in value, starting from last year, is driven by the belief that Nvidia stands to gain greatly from more investment in artificial intelligence (AI).
Meanwhile, Nvidia's growth surpassed tech giants like Amazon, Google's Alphabet and Saudi Aramco in 2024.
Now, the company's market worth is second only to Microsoft, largely due to its investments in AI, including through initiatives like OpenAI.
Previously valued at around $2 trillion in February, Nvidia's announcement of a stock split last month further boosted investor interest.
The split, set to occur on Friday, aims to make shares more accessible to small-time investors by increasing their number and reducing their individual value.
Established in 1993, Nvidia initially gained recognition for producing graphics processing chips for computer games.
Its expansion into features supporting machine learning has contributed to its market dominance, positioning it as a key player driving the adoption of AI-powered technology across industries.
According to CEO Jensen Huang, Nvidia has experienced explosive growth, reporting sales of $26 billion in the three months ending April 28, more than triple compared to the same period in 2023.
