Nvidia is now more valuable than Apple at $3.01 trillion

Nvidia has become the second most valuable company in the world. On Wednesday afternoon, the chipmaking giant’s market capitalization hit $3.01 trillion, putting it just ahead of Apple at $3 trillion.

In May, Nvidia reported making a whopping $14 billion in profit on account of all the chips it’s selling. Nvidia now only trails behind Microsoft, which currently has a market cap of $3.15 trillion. The chipmaker’s stock currently sits at more than $1,220 per share, but Nvidia plans on splitting the stock on June 7th.