Nvidia has overtaken Microsoft and Apple to become the world’s most valuable publicly listed company. The graphics processing and AI chip leader now boasts a market capitalization of $3.34 trillion, edging out Microsoft's $3.32 trillion and Apple's $3.29 trillion valuations.
Nvidia's shares are trading at approximately $135 following a 10-for-1 stock split in early June. Before the split, Nvidia's shares were around $1,200. This stock split aimed to position Nvidia favorably for inclusion in the Dow Jones Industrial Average, which prefers companies with lower share prices to maintain a balanced index.
Nvidia, founded in 1991 as a gaming company specializing in graphics cards for high-performance video games, has since shifted its focus to pioneering technology for the artificial intelligence era.
During the GPU-mining boom of the cryptocurrency era starting around 2010, Nvidia saw increased demand for its graphics processors. This boom ended with the advent of application-specific integrated circuits (ASICs) for proof-of-work cryptocurrency mining.
Nvidia’s advanced graphics processors are now the preferred choice for industry leaders like OpenAI, Google, Amazon, and Microsoft in developing their AI systems and infrastructure.
The company reported strong Q1 results, earning $26 billion in revenues, with $22.6 billion coming from data center revenue. These results led Nvidia founder and CEO Jensen Huang to announce that the company will release new AI chipsets annually, marking what he describes as a modern industrial revolution that will impact all sectors of the global economy.
Previously, Nvidia updated its high-end microprocessors every two years, with Ampere released in 2020, Hopper in 2022, and Blackwell architecture in 2024.
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