Nvidia Now Valued at $3.01 Trillion, Overtaking Apple as Second Most Valuable Company

Nvidia, a leader in GPU development and recent AI innovations, has reached a new valuation milestone, crossing the $3 trillion USD mark. Now valued at $3.01 trillion USD, Nvidia has effectively overtaken Apple as the second most valuable company in the world.

Nvidia’s latest push on the market sees stock rise 5.2 percent to $1,224.40 USD, bringing total value to $3.012 trillion, This is slightly above Apple’s current $3.003 trillion valuation. Apple’s stock rose to 0.8 percent. Nvidia first became a $1 trillion dollar company in 2023. It didn’t take long before reaching the $2 trillion mark earlier this year in February.

However, despite the recent boom, Microsoft remains the most valuable company in the world, sitting at $3.15 trillion with shares climbing to 1.9 percent. That being said, Nvidia sits above many of the globe’s largest tech companies including Meta, Google, and Amazon. All of which are currently in the midst of capitalizing on AI. “Nvidia is making money on AI right now, and companies like Apple and Meta are spending on AI,” said Jake Dollarhide, chief executive officer at Longbow Asset Management, as reported by The Globe and Mail.

Throughout 2024, Nvidia’s stock has risen 147 percent. With processors in hot demand, the company reported $14 billion in profits back in May. Nvidia’s AI processors currently make up 70 percent and 95 percent of the market share for AI chipsets, CNBC reports. Nivida aims to launch a new AI chip each year. Later this fall, the company is expected to release its Blackwell B200 GPU, which offers six transformative technologies tailored for accelerated computing.