Nvidia Surges to $3.28 Trillion in 2024, Second Only to Apple

Nvidia’s AI chip dominance fueled a $2 trillion market cap boost in 2024, making it the second most valuable company globally.

Nvidia emerged as the world’s biggest gainer in market capitalization for 2024, thanks to skyrocketing demand for its AI-focused chips. The company’s innovations in artificial intelligence boosted its value to $3.28 trillion by year-end, up from $1.2 trillion in 2023.

This $2 trillion surge elevated Nvidia to the position of the second-most valuable publicly traded company globally, trailing only Apple. Its success was driven by a wave of industries adopting AI solutions, cementing Nvidia as a leader in the AI chip sector.

Apple remained the most valuable company even if Nvidia’s stock growth was meteoric. It has now reached almost $4 trillion, which is as close as the world has got to an all-time high. People hang their hopes on better future-added AI features to make iPhones more enticing to the clientele.

Till the end of 2024, Microsoft was estimated to be worth $3.1 trillion making it the third largest company in the world. Alphabet Inc. and Amazon completed the list of the top five companies with $2.3 trillion in market capitalization each. This is the way that AI is becoming the main asset for world leaders in technology.

That today Nvidia, which is a graphic cards manufacturer company, has become so successful is indicative of how crucial AI is turning into the global economy. Its GPUs are behind the major advancements in machine learning, self-driving cars and cloud computing, making it an integral part of AI in every industry.