Nvidia Surpasses $3 Trillion Market Cap, Overtakes Apple with 147% Stock Surge

Jun 5, 2024, 07:20 PM

Nvidia Corporation (NASDAQ: NVDA) has reached a significant milestone by surpassing a $3 trillion market capitalization for the first time. This achievement makes Nvidia the third company ever to reach this valuation, joining the ranks of Apple Inc. (NASDAQ: AAPL) and Microsoft Corporation (NASDAQ: MSFT). Nvidia's market cap surge is driven by the booming demand for artificial intelligence (AI) technology, which has propelled its stock price to new heights. Nvidia shares rose 4.8% to $1,219 during intraday trading. As a result, Nvidia has overtaken Apple to become the world's second most valuable company, with a market cap of approximately $3.004 trillion. The company's stock has seen a remarkable increase of 147% in 2024, further solidifying its position in the market.