Nvidia Hits $1 Trillion Market Value

Nvidia Hits $1 Trillion Market Value

Share to Linkedin Nvidia CEO Jensen Huang speaks at a press conference Tuesday. Shares of Nvidia rose 4% in early trading, representing a one-day gain of $40 billion and pushing the chipmaker's market value to a hair over $1 trillion. Nvidia is now the sixth public company in the world valued at over $1 trillion, joining Apple, Saudi Aramco, Microsoft, Alphabet and Amazon; the only other companies to ever cross the threshold are Tesla and Meta, which are each valued at less than $700 billion today, and Chinese oil giant PetroChina. Joining the $1 trillion club follows a dramatic rise thus far in 2023, with Nvidia's stock up more than 175% as Wall Street analysts say the Palo Alto-based company could be the firm best-positioned to profit off of the AI boom. Nvidia's stock surged more than 10% following each of its earnings reports this year as investors' imaginations for the company ran wild. The firm, which makes the chips powering generative AI computing in addition to a variety of software and hardware products, said last week it anticipates profits to be twice as high as expected during the current quarter thanks to AI-related sales. The stock's dramatic rally year-to-date