Nvidia has ascended to become the second most valuable company in the world, surpassing Apple with a market capitalization of $3.01 trillion.
Nvidia's rapid rise can be attributed to its dominance in the AI sector, particularly with its flagship H100 chip.
The company's market cap has seen a meteoric increase, first hitting $1 trillion in May 2023, and then soaring past $2 trillion in February of this year, surpassing the values of tech giants Amazon and Alphabet.
The financial performance of Nvidia has been staggering. In May, the company reported profits of $14 billion, driven by robust sales of its chips.
Currently, Nvidia only trails behind Microsoft, which holds the top spot with a market cap of $3.15 trillion.
Nvidia's stock is trading at over $1,220 per share, with a stock split planned for June 7th.
Nvidia's AI accelerators command a significant share of the market, ranging between 70 percent and 95 percent, according to CNBC.
Looking ahead, Nvidia has ambitious plans to release a new AI chip annually, starting with the highly anticipated Blackwell B200 GPU, set to launch later this year.
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