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Semiconductor giant Nvidia (NVDA) has been hitting new market-cap milestones at an unprecedented pace. Last year, it joined the $1 trillion market cap club, while its valuation surpassed $2 trillion in February this year. By June, it was a $3 trillion behemoth, becoming only the third company ever to achieve that feat.
Nvidia’s rally – both in percentage and absolute terms – looks like a Cinderella story. In the process, the chip-designing giant's market cap even rose above that of Apple (AAPL), which would have been unthinkable just a few years back.