Nvidia achieves $2 trillion market cap, faster than Microsoft and Apple

Nvidia continues its whirlwind growth, and has now crossed the $2 trillion market capitalization threshold, positioning itself alongside tech giants Apple and Microsoft in the elite $2 trillion market value club. This remarkable achievement makes Nvidia only the third company to reach this financial milestone, crossing in eight months; about half the time it took its peers, Microsoft and Apple, underscoring its significance in the technology sector.

The surge in Nvidia’s market value follows a historic one-day gain of $272 billion, cementing its status as a leader in the rapidly growing field of generative AI. Leveraging its GPUs to power a vast array of AI applications, Nvidia has emerged as a primary beneficiary of the current AI wave.

The company’s remarkable financial performance is highlighted by record-breaking sales, surpassing Wall Street’s expectations with revenues soaring 256 percent year-over-year to reach $22.10 billion. Notably, data center-specific revenues experienced an exceptional 409 percent increase, reaching $18.4 billion.

Founder and CEO of Nvidia, Jensen Huang, had earlier attributed this success to the accelerating demand for accelerated computing and generative AI.