Nvidia's rise to $4 trillion: A timeline of its market capitalisation

Nvidia was founded in 1993 as a manufacturer of graphics processing units (GPUs) for gaming by Jensen Huang, Chris Malachowsky, and Curtis Priem in Santa Clara, California.

The company made history on July 9 when its market capitalisation crossed $4 trillion, the first public company in the world to do so. This reflects Wall Street's stamp of approval for all things AI, for which the company's advanced chips are crucial.

Nvidia’s initial focus was on developing GPUs for video gaming and graphics-intensive applications. Through the 1990s, it developed multiple series of graphics processors, which won the company strong word of mouth. It led to Nvidia winning a contract to develop hardware for Microsoft's gaming console, Xbox.


In the next decade, the company expanded beyond gaming and started working with NASA to develop graphics for its Mars simulation. It also started supplying chips to Audi's cars. With the 2010s came early applications of AI.

The surge in AI and machine learning applications throughout the decade, and later, when OpenAI launched ChatGPT in 2022, was powered by Nvidia GPUs. This dramatically boosted Nvidia’s valuation, with the company's market cap tripling from $1 trillion to $4 trillion in just over two years.

Market capitalisation through the years

1999 (IPO year): The company's market cap is at $563 million the year it goes public.

2013: After steady growth through the 2000s, the company crosses the $10 billion mark.

2017: Nvidia crosses the $100 billion mark after early AI starts gathering pace.

2020: A major surge begins, at a speed unmatched by other Big Tech companies. This is driven by Nvidia's play in GPUs for AI and data centres.

2023: Nvidia first reaches $1 trillion in market value in June 2023.

2024: The company surpasses Microsoft and Apple, crossing the $3-trillion mark and becoming the most valuable company in the world.