Nvidia Corporation achieved a historic milestone by becoming the first publicly traded company to reach a market capitalization of $4 trillion during intraday trading. This landmark moment underscores Nvidia’s dominant role in the artificial intelligence (AI) revolution and its meteoric rise in the global financial landscape. Although the stock closed slightly below the $4 trillion mark at $3.97 trillion, the achievement highlights the chipmaker’s unprecedented growth and investor confidence in its AI-driven future.
The company, founded in 1993, has seen its market cap skyrocket from $2 trillion in February 2024 to $3 trillion in June, fueled by soaring demand for its AI-focused graphics processing units since ChatGPT’s 2022 launch. Nvidia’s shares have risen over 15% in the past month and 22% year-to-date, a fifteenfold increase over five years.
This rally persists despite challenges, including $8 billion in lost sales due to U.S. export restrictions on its H20 chips for China, a market Nvidia’s CEO Jensen Huang noted is largely closed to U.S. firms.
Source : CNBC