Nvidia has passed $2 trillion in market capitalization, joining Apple and Microsoft in the exclusive $2 trillion market value club. It is the third company ever to pass that financial milestone.

The valuation comes a day after Nvidia added the largest valuation in a single day of any company, at $272 billion.

Nvidia CEO Jensen Huang with a DGX-2
– Sebastian Moss

Nvidia has seen its share price repeatedly jump on the back of investor appetite for generative AI companies. With its GPUs helping power the vast majority of those AI applications, it has been the biggest winner of the current AI cycle,

The company passed one trillion in value last May - itself a significant increase over the year prior. But this Wednesday the company posted record sales that comfortably beat Wall Street expectations.

Revenues across the company were up 256 percent over the same quarter last year, hitting $22.1 billion. Data center-specific revenues jumped some 409 percent to $18.4bn.

“Accelerated computing and generative AI have hit the tipping point," Jensen Huang, founder and CEO of Nvidia, said at the time. "Demand is surging worldwide across companies, industries and nations.”

Earlier this month, Huang claimed that data center spend was set to go from $1 trillion to $2 trillion in just five years.

The company is expected to announce further AI and data center products at its GTC event next month. DCD will be reporting on the news live from the show floor.