NVIDIA's market capitalization tops $3 trillion, surpassing Apple to become the world's second largest after Microsoft

Semiconductor manufacturer NVIDIA's stock price rose 5%, and its market capitalization exceeded $3 trillion (about 468 trillion yen) for the first time since its founding, making it the world's second largest public company, surpassing Apple.

Nvidia hits $3 trillion market cap on back of AI boom
https://www.cnbc.com/2024/06/05/nvidia-briefly-passes-3-trillion-market-cap-on-back-of-ai-boom.html

Nvidia overtakes Apple as No. 2 most valuable company | Reuters
https://www.reuters.com/technology/nvidia-verge-overtaking-apple-no-2-most-valuable-company-2024-06-05/

NVIDIA reported revenues of $26.044 billion (approximately 4 trillion yen) for the first quarter of fiscal 2025 (February to April 2024), up 18% from the previous quarter. NVIDIA is a company that manufactures semiconductors such as GPUs and AI accelerators, but in recent years it has also made significant profits in the data center sector, and in the first quarter of fiscal 2025, the data center sector alone recorded revenues of $22.6 billion (approximately 3.5 trillion yen), up 23% from the previous quarter and 427% from the previous year.

NVIDIA's first quarter revenue for fiscal 2025 increased 262% year-on-year, with data center division increasing 427% year-on-year to a record high - GIGAZINE

Market expectations for NVIDIA, which has a large share of AI-related hardware, are rising, and NVIDIA's market capitalization had just exceeded $2 trillion (approximately 311 trillion yen) on February 22, 2024. Just three and a half months later, on June 5, 2024, NVIDIA's stock price rose 5% to close at $1,224.40 (approximately 190,620 yen), giving the company a market capitalization of $3.12 trillion (approximately 485.58 trillion yen), making it the second-largest public company in terms of market capitalization.

Until then, Microsoft was ranked first in the market capitalization ranking, followed by Apple, the first public company in history to have a market capitalization of over $3 trillion.

Apple's market capitalization exceeds 340 trillion yen, becoming the world's first company to reach 3 trillion dollars - GIGAZINE

On the same day that NVIDIA's market capitalization exceeded $3 trillion, Apple's market capitalization rose 0.8% to $3.3 trillion (approximately 466.85 trillion yen), but it was overtaken by NVIDIA and dropped to third place in the market capitalization ranking. Microsoft, which ranks first in market capitalization, increased its stock price by 1.9% on the same day, and its market capitalization rose to $3.15 trillion (approximately 490.25 trillion yen), maintaining its lead.

'Fundamentally, we see favorable conditions for continued growth,' NVIDIA CEO Jensen Huang said during the company's quarterly investor call.