Nvidia’s impressive rally is being powered by the company’s graphics processing units that have sparked a boom in artificial intelligence (AI).
Nvidia’s shares jumped 5 percent to reach $1,224.40 on Wednesday, taking the company’s market value above $3 trillion for the first time. This surge comes as investor interest continues to grow in Nvidia, which is at the heart of the boom in generative AI. Nvidia has now surpassed Apple to become the second-largest public company, just behind Microsoft.
This achievement is part of a remarkable trend, with Nvidia’s stock price rising by over 3,224% in the past five years. Additionally, the company will undergo a 10-for-1 stock split later this month. Microsoft, the world’s most valuable company, saw its stock rise by 1.91 percent, while Apple’s stock gained 0.78 percent.
NVIDIA’s Rally Continues
Apple was the first U.S. company to reach a $3 trillion market cap during intraday trading in January 2022. Microsoft achieved a $3 trillion market value in January 2024. Nvidia, founded in 1993, reached a $2 trillion valuation in February and took roughly three months to surpass $3 trillion.
Nvidia’s impressive rally is being powered by the company’s graphics processing units that have sparked a boom in artificial intelligence (AI).
