Nvidia’s (NVDA) massive rise in the AI era has been well-documented, but did you know that it’s currently the world’s third most valuable company?

To put the massive market cap of Nvidia into perspective, we’ve put it side by side with a collection of other major U.S. tech companies.

All figures were sourced from Companiesmarketcap.com, and are as of May 23, 2024.

Data and Takeaways

All of the numbers we used to create this graphic are included in the table below.

These figures are even more impressive when you consider that at the beginning of 2020, Nvidia was valued at a relatively tiny $145 billion.

Since then, the company has greatly surpassed other American chipmakers like Intel and AMD. This growth is due to several key factors:

• Expansion into AI and data centers: Nvidia’s chips are highly effective for AI training, making them essential for companies engaged in machine learning and generative AI
• Advancements in AI software: Nvidia has developed AI software platforms, such as CUDA-X and TensorRT, which are widely used by researchers.
• Strong financial performance: Nvidia has consistently delivered strong financial results in recent years, with substantial revenue growth.

Closing in on Apple

With Nvidia’s latest stock surge (up 13.5% over the past five days ending May 24, 2024), the company could possibly overtake Apple to become the world’s second most valuable company.

Microsoft, another major player in AI, holds the #1 spot with a market cap of $3.2 trillion.

More By This Author: