CHART: Chipmaker Nvidia soars past Apple as it joins the $3 trillion club
This comes a mere three months after it surpassed the $2 trillion mark in February.
In a historic achievement for the chipmaker, Nvidia has rocketed into the exclusive $3 trillion club.
The chipmaker’s stock climbed 5.2% on Wednesday, closing at $1,224.40. The stock rally saw it add nearly $150 million in market capitalization on Wednesday alone - more than the entire valuation of Intel, pushing its market value to an eye-popping $3.012 trillion.
This comes a mere three months after it surpassed the $2 trillion mark in February when it surpassed Alphabet.
The company now stands as the second-largest public firm in the U.S., leapfrogging Apple and trailing only behind Microsoft. Apple was initially the first US company to reach this mark in early 2022, followed by Microsoft in January 2024.
This milestone is the latest triumph in Nvidia's incredible five-year run, during which its stock has skyrocketed over 3,224%. Nvidia also reported a blockbuster first-quarter earnings report showing sales tripling year-over-year.