- NVIDIA’s market cap surged to $3 trillion, surpassing Apple.
- The company’s rapid growth is driven by high demand for its AI chips.
- New platforms, Blackwell and Rubin, are expected to further boost NVIDIA’s market position.
NVIDIA has achieved a remarkable milestone, reaching a market capitalization of $3.011 trillion and surpassing Apple to become the world’s second most valuable company. This rapid growth, which took just five months, saw NVIDIA’s market cap soar from $1.21 trillion on January 6, 2024, to its current valuation—an increase of $1.801 trillion. To put this into perspective, NVIDIA’s growth nearly matches Amazon’s entire market cap of $1.886 trillion.
The driving force behind NVIDIA’s exponential rise is its AI chips, renowned for their speed and efficiency in AI tasks such as training and inferencing. These chips have significantly boosted NVIDIA’s revenue. The company’s leadership in the AI ecosystem is further solidified by its diverse range of products and services designed to advance AI projects.
NVIDIA’s innovation continues with the introduction of two new platforms. The Blackwell platform, launched on March 18, 2024, promises real-time generative AI on trillion-parameter large language models with up to 25 times less cost and energy consumption compared to its predecessor. Additionally, the Rubin platform, unveiled by CEO Jensen Huang at Computex 2024, includes new GPUs and a central processor named ‘Vera,’ expected to ship later in 2024.
A significant contributor to NVIDIA’s success is its data center revenue, which now surpasses its video game revenue. NVIDIA is also expanding into new areas such as deep learning and autonomous vehicles, positioning itself for continued growth and dominance in the tech industry.
