Nvidia Touches $1 Trillion Mark After Beating Rivals to AI
- Stock has soared amid booming demand for AI chips and software
- Fewer than 10 stocks have topped the $1 trillion threshold
Nvidia Corp.’s market valuation fleetingly crossed the $1 trillion threshold on Tuesday after the chipmaker’s artificial intelligence prospects vaulted it into an elite club of just five American companies.
The stock rose as much as 7.7% early in the session, putting Nvidia well into $1 trillion territory, before retreating from the milestone during the afternoon. Alphabet Inc., Amazon.com Inc., Apple Inc. and Microsoft Corp. are the only other US businesses to have trillion-dollar valuations, and fewer than 10 companies globally have achieved the distinction.