Nvidia Corp on Tuesday became the first chipmaker to join Wall Street’s trillion-dollar club dominated by technology heavyweights such as Apple Inc and Microsoft Corp.
The boom in artificial intelligence (AI) technology has driven a threefold surge in Nvidia’s stock valuation in less then eight months, helping the chipmaker hit the trillion-dollar mark about 24 years after going public. iPhone maker Apple took 38 years to cross the lofty milestone.
Nvidia becomes first chip maker to hit US$1-trillion market value
Meta Platforms Inc and Tesla Inc, now valued at more than US$600-billion, had briefly hit a trillion in valuation in 2021, before falling back into the billions.
The tech-heavy Nasdaq Composite has gained about 25 per cent so far this year, after falling 33 per cent in 2022.
Here is a list of companies with trillion-dollar market capitalizations, and those nearing the milestone:
COMPANIES THAT HAVE REACHED US$1-TRILLION IN VALUATION
COMPANIES NEARING US$1-TRILLION IN MARKET CAPITALIZATION
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