NVIDIA Corporation ( NVDA ) reached a $3 trillion valuation by market capitalization Wednesday, joining Apple, Inc. ( AAPL ) and Microsoft Corporation ( MSFT ) as the third company to ever achieve the milestone.

The Details: Nvidia's ( NVDA ) shares closed Wednesday up more than 5%, giving it a market cap of around $3 trillion. The chipmaker’s market cap surpassed Apple's ( AAPL ) during Wednesday's session, making it the second most valuable company in the U.S and the second-largest holding in the SPDR S&P 500 ETF Trust ( SPY ) . 

Nvidia ( NVDA ) shares have risen more than 6% this week amid continued momentum on the back of booming demand for its AI chips. Nvidia ( NVDA ) CEO Jensen Huang recently announced the company will release a high-powered version of its Blackwell chip, Blackwell Ultra, in 2025, and a new AI chip platform, Rubin, in 2026, which has helped the stock roar to new highs this week.

Nvidia ( NVDA ) is also seeing increased attention ahead of its upcoming 10-for-1 stock split, set to take place after the market close on Friday. Nvidia's ( NVDA ) stock is up nearly 150% year-to-date after more than tripling in 2023, per Benzinga Pro.

Related News: Wedbush’s Dan Ives Says WWDC 2024 Is ‘Most Important Event For Apple In Over A Decade’: What To Expect

NVDA Price Action: According to Benzinga Pro, Nvidia ( NVDA ) shares ended Wednesday's session up 5.16%, closing at an all-time high of $1,224.40. The stock was up another 0.59% in after-hours trading at the time of publication.

Image: Shutterstock