Nvidia's capitalization reaches $3.01 trillion

Nvidia has achieved the status of the world's second most valuable company. As of Wednesday, the chipmaking giant's market capitalization reached $3.01 trillion, surpassing Apple's $3 trillion valuation. With its flagship H100 chip leading the charge in the AI race, Nvidia's market capitalization has continued its upward trajectory. Having attained a $1 trillion valuation in May 2023, the company soared past $2 trillion in February of the current year, surpassing the valuations of both Amazon and Alphabet.

In May, Nvidia announced a substantial profit of $14 billion, attributed to robust chip sales. Presently, Nvidia trails behind Microsoft, which boasts a market capitalization of $3.15 trillion. Despite the company's stock trading at over $1,220 per share, Nvidia is set to split its stock on June 7th.

Nvidia commands a significant portion of the AI chip market, accounting for 70 to 95 percent of market share, as reported by CNBC. With plans to introduce a new AI chip annually, starting with the upcoming Blackwell B200 GPU expected later this year, Nvidia aims to maintain its momentum in the AI sector.