BBG: Nvidia touches $1 trillion mark after beating rivals to AI

© Randydoimonet tech

© Randydoi

By LoadstarEditorial

30/05/2023

BLOOMBERG writes:

Nvidia Corp.’s market valuation crossed the $1 trillion threshold on Tuesday after its artificial intelligence prospects vaulted the chipmaker 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 paring the gains. 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.

As of 12:48 p.m. in New York, Nvidia’s market capitalization stood at $995.3 billion…

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