Nvidia Becomes Second Most Valuable Company at Over $3 Trillion Behind Microsoft, Riding on the AI Boom

Nvidia's market value has surged past $3 trillion, overtaking Apple to become the second most valuable publicly listed company in the world behind Microsoft. Nvidia's share price rose 5% on Wednesday to over $1,200. Valued at just $2 trillion in February, Nvidia's announced stock split that will increase shares by 10x and lower their price is expected to generate more demand. Founded in 1993, Nvidia was originally a graphics chip maker but added machine learning features, positioning it for the AI revolution. Nvidia reported $26 billion in sales for the last quarter, more than triple the previous year's and up 18% from the prior quarter, showing explosive growth.