Nvidia (NVDA) became the first chipmaker to ever hit a $1 trillion market valuation on Tuesday. Nvidia's stock rose more than 5% during the session, temporarily crossing over the threshold before giving back some of those gains in the afternoon.
The Santa Clara, Calif.-based chipmaker is now the ninth public company to ever hit the $1 trillion level, joining the ranks of tech giants such as Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN), and Apple (AAPL).
Nvidia shares have seen a stunning rally this year — up more than 165% since the start of 2023. The chipmaker is at the center of an AI craze thanks to its high-powered graphics cards and server products.
On Monday, Nvidia took the wraps off a slew of new AI-centric products, including a new high-powered supercomputer and a platform that will put generative AI to work in video game development.
... Read More: Yahoo Finance