Nvidia Surpasses $3 Trillion Market Cap, Overtakes Apple, Jensen Huang's Wealth Soars

Jun 7, 2024, 01:35 AM

Santa Clara-based Nvidia has achieved a significant milestone by surpassing a $3 trillion market capitalization, making it the second most valuable company in the world, leapfrogging Apple. This achievement is fueled by the company's strong performance in artificial intelligence and semiconductor markets. Nvidia's CEO, Jensen Huang, has seen his net worth rise to $107 billion, making him the 13th richest person globally. The company also announced a 10-for-1 stock split, which will take effect on June 10, 2024. Nvidia's gross profit margins of 78.35% significantly outperform Apple's 46.57%, highlighting the company's robust financial health. The rise in Nvidia's market value has been driven by the AI boom, and the company is now worth $100 million per employee. Nvidia's stock price reached $1,237/share. Analysts believe Nvidia could soon surpass Microsoft to become the world's most valuable company. At Computex, Jensen Huang was celebrated like a rockstar.