Nvidia Surpasses Apple, Becomes Second Most Valuable Company Globally

Nvidia Surpasses Apple, Becomes Second Most Valuable Company Globally

Raphael Dubois
2 min read

Nvidia Overtakes Apple to Become Second Most Valuable Company Globally

Nvidia has witnessed a remarkable surge, propelling it to the position of the world's second most valuable company, with a market capitalization of $3.01 trillion, surpassing Apple's $3 trillion. This significant growth can be attributed to Nvidia's dominant presence in the AI chip market, particularly driven by its flagship H100 chip, resulting in a notable surge in profits, which reached $14 billion in May alone. This phenomenal rise has positioned the company just behind Microsoft, marking a threefold increase in its market capitalization from $1 trillion in May 2023 to over $3 trillion. Moreover, Nvidia's strategic plan to release a new AI chip annually, commencing with the highly anticipated Blackwell B200 GPU later this year, underscores its commitment to maintaining a competitive edge.

Key Takeaways

  • Nvidia's market cap reaches $3.01 trillion, surpassing Apple's $3 trillion.
  • Dominance in the AI chip market with a 70-95% share, propelled by the H100 chip.
  • Annual launch of AI chips, starting with the Blackwell B200 GPU.
  • Profits amounted to $14 billion in May 2024, largely driven by chip sales.
  • Stock price exceeds $1,220 per share, with a stock split scheduled for June 7th.


Nvidia's meteoric rise, fueled by its dominance in AI chip technology, carries significant implications. Notably, competitors such as AMD and Intel are now facing heightened pressure, while industries reliant on AI applications, such as autonomous vehicles and cloud computing, stand to benefit from advanced technology. This surge is also poised to catalyze increased research and development expenditure across the tech sector, fostering a culture of innovation. Furthermore, the imminent stock split is likely to attract a larger investor base, thereby amplifying liquidity and potentially auguring further growth. In the long term, the annual release of new AI chips holds the potential to solidify Nvidia's dominance in the market, potentially reshaping the global tech landscape and exerting influence on the trajectory of AI development.

Did You Know?

  • Market Cap: This denotes the total value of a company's shares of stock, calculated by multiplying the current market price of a share by the total number of outstanding shares. Nvidia's market cap of $3.01 trillion underscores the substantial value attributed to its shares in the stock market.
  • AI Chip Market Dominance: It refers to Nvidia's noteworthy control over the AI chip market, specialized processors designed to handle complex computations essential for artificial intelligence and machine learning tasks. With a dominant share ranging from 70-95%, Nvidia wields substantial influence and profitability in this sector, underscoring its pivotal role in the realm of AI technology.
  • Stock Split: This corporate action involves dividing a company's existing shares into multiple shares to enhance share liquidity. Nvidia's planned stock split on June 7th is poised to make its shares more accessible and appealing to a broader spectrum of investors, without altering the total value of the shares.

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