Nvidia Nears $1 Trillion Market Capitalization—Closing In On These Other Companies

Nvidia Nears $1 Trillion Market Capitalization—Closing In On These Other Companies

Share to Linkedin Nvidia is rapidly closing in on joining an elite list of publicly traded companies with a market capitalization of more than $1 trillion, as the tech company's stock has soared more than 25% since it released a remarkably optimistic financial outlook Wednesday night outlining how the AI boom is driving chip demand. Nvidia could reach $1 trillion in market capitalization, joining a small list of companies. Nvidia's market cap is just over $950 billion as of Thursday afternoon, up a whopping $170 billion since the 30-year-old company released an earnings report Wednesday night that pushed its share price up 25. 6% to $383. 43. Nvidia's earnings report estimated $11 billion in sales for the second quarter, more than 50% higher than analysts' predictions. The company also reported $7. 19 billion in revenue in the first quarter, $67 million higher than expected and up 19% from the previous quarter, and earnings per share were $1. 09, $0. 17 higher than expected and up 24% from the previous quarter. Nvidia, whose current market capitalization is just behind Amazon as the sixth-largest in the world, would be one of a handful of stocks to reach $1 trillion since Apple hit