In a historic milestone, Nvidia has surpassed the $3 trillion market capitalization mark, overtaking Apple to become the second most valuable public U.S. company. This achievement is a testament to the company’s dominance in the artificial intelligence (AI) infrastructure market, where it holds an impressive 80% share. The chipmaker’s shares have risen 24% since its first-quarter earnings report in May, and a staggering 3,290% over the past five years. Nvidia’s revenue growth can be attributed to companies and countries partnering with the company to transition from traditional data centers to “AI factories” that will deliver productivity gains in most industries. The company’s founder and CEO, Jensen Huang, has announced plans to update its AI accelerators annually, with the Blackwell Ultra chip due in 2025, and debut a next-generation AI platform in 2026. This expansion is expected to lead to more widespread adoption of generative AI by companies and government agencies.
Nvidia Surpasses $3 Trillion Milestone
Nvidia’s revenue for the quarter ended April 28 was up 18% compared to the previous quarter and up 262% from the same period a year earlier.
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