The world's most valuable company, (NASDAQ: MSFT), has a market capitalization of $3.2 trillion, and it's the only member of the "$3 trillion club" right now. Apple was a club member last year, but then a decline in stock price pulled its market cap down to $2.9 trillion. So this club is so exclusive, it only has one member.

But that exclusivity may not last as another company is rocketing up the valuation ranks.

Nvidia (NASDAQ: NVDA) was worth just $360 billion at the start of 2023. Since then, its stock has soared 720% to elevate its market cap to $2.6 trillion. Nvidia designs the data center chips powering the recent artificial intelligence (AI) revolution, and demand is skyrocketing. Nvidia stock now trades at over $1,060 per share, which makes it somewhat inaccessible for retail investors with less available cash to invest. To aid accessibility, the company will initiate a 10-for-1 stock split after the market closes on Friday, June 7, increasing shares in circulation tenfold, while reducing the price per share to around $106.

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Source Fool.com