Nvidia hits $3 trillion market cap on back of AI boom

Apple was the first U.S. company to reach a $3 trillion market cap in January 2022. Microsoft hit $3 trillion in market value in January 2024.surpassed $3 trillion in market cap during intraday trading on Wednesday as investors continue to clamor for the company making most of the chips powering the AI boom.Nvidia's milestone is the latest stunning mark in a run where the stock price has gone parabolic as investors bet on artificial intelligence.

Nvidia shares have surged in recent years, powered by the tech industry's need for its chips, which are used to develop and deploy big artificial intelligence models like the one at the heart of OpenAI's ChatGPT.

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