Nvidia Crosses $3T Market Cap: AI Darling Joins Ranks Of Apple, Microsoft, Closes At All-Time High

Zinger Key Points
  • Nvidia reached $3 trillion in market cap Wednesday, joining Apple and Microsoft as the third company to achieve the milestone.
  • Nvidia is also the second-largest holding in the SPDR S&P 500 ETF Trust.
Loading...
Loading...

NVIDIA Corporation NVDA reached a $3 trillion valuation by market capitalization Wednesday, joining Apple, Inc. AAPL and Microsoft Corporation MSFT as the third company to ever achieve the milestone.

The Details: Nvidia's shares closed Wednesday up more than 5%, giving it a market cap of around $3 trillion. The chipmaker’s market cap surpassed Apple's during Wednesday's session, making it the second most valuable company in the U.S and the second-largest holding in the SPDR S&P 500 ETF Trust SPY

Nvidia shares have risen more than 6% this week amid continued momentum on the back of booming demand for its AI chips. Nvidia CEO Jensen Huang recently announced the company will release a high-powered version of its Blackwell chip, Blackwell Ultra, in 2025, and a new AI chip platform, Rubin, in 2026, which has helped the stock roar to new highs this week.

Nvidia is also seeing increased attention ahead of its upcoming 10-for-1 stock split, set to take place after the market close on Friday. Nvidia's stock is up nearly 150% year-to-date after more than tripling in 2023, per Benzinga Pro.

Related News: Wedbush’s Dan Ives Says WWDC 2024 Is ‘Most Important Event For Apple In Over A Decade’: What To Expect

NVDA Price Action: According to Benzinga Pro, Nvidia shares ended Wednesday's session up 5.16%, closing at an all-time high of $1,224.40. The stock was up another 0.59% in after-hours trading at the time of publication.

Image: Shutterstock

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsMoversJensen Huang
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...