Nvidia Tops $2 Trillion Valuation in First for Chipmakers
The chipmaker’s shares rose as much as 4.9% on Friday after closing at a $1.96 trillion valuation in the previous session.
The gain will cement Nvidia’s position as the world’s fourth-most valuable company after rallying roughly 65% since the beginning of the year, with a market capitalization that’s only behind those of Microsoft Corp., Apple Inc. and Saudi Aramco.
Tweet on NVIDI’A market cap
@nvidia Tops $2 Trillion Valuation in First for Chipmakers
Chip giant up over 60% in 2024, currently ranked as the fourth-biggest stock, via Bloomberg#nvidia #ai #chips pic.twitter.com/HsDCp3k4Lg— The_Journalbiz (@the_journalbiz) February 23, 2024
Bloomberg chart
Nvidia Corp. is on its way to becoming the first semiconductor firm with a $2 trillion valuation, another milestone in its ascendancy as the biggest beneficiary of a rush into artificial intelligence-related stocks over the past year.
Chip giant up over 60% in 2024; ranks as fourth-biggest stock
Firm is biggest beneficiary of rush into AI-related equities
While Apple and Microsoft took over two years to go from $1 trillion to $2 trillion, Nvidia is on track to accomplish that in under a year as the stock rides Wall Street’s AI frenzy.
