NVIDIA has recently made history by becoming the 12th company to lead the S&P 500 index. This achievement is a significant milestone for the tech giant, as it now boasts a market cap of $3.335 trillion, surpassing both Microsoft and Apple in terms of value.
The company’s stock has seen an impressive surge of 182% year-to-date and an astonishing 342,000% since its inception. This remarkable growth is attributed to NVIDIA’s consistently strong quarterly earnings and overall market performance.
The tech landscape is evolving rapidly, with NVIDIA’s rise to the top coinciding with Apple’s announcement of integrating AI technology with OpenAI. This signals a competitive environment in the tech industry, as companies strive to innovate and stay ahead of the curve.
According to the Financial Times, the last time a US company outvalued both Microsoft and Apple was back in 2011, when ExxonMobil held the top spot. NVIDIA’s rapid growth trajectory is evident, with the company hitting a market cap of $1 trillion in June 2023, reaching $2 trillion in March 2024, and now surpassing $3 trillion in June 2024.
This achievement solidifies NVIDIA’s position as a global tech leader and sets the stage for continued innovation and growth in the industry. With its market cap continuing to climb, NVIDIA is poised to make further waves in the tech world and beyond.