Nvidia’s market capitalization has reached $2 trillion, marking a significant achievement in the chipmaker’s swift rise to become one of the most valuable firms globally.
Nvidia’s shares surged by more than 4% during morning trading following the release of the company’s earnings report this week. The profits continued to increase significantly following the company’s exceptional earnings report.
The company is profiting from advancements in artificial intelligence (AI), which have driven the market for its processors. The firm’s turnover increased by over 100% last year, exceeding $60 billion. CEO Jensen Huang informed investors that demand was rapidly increasing globally. Nvidia is currently the fourth most valuable publicly traded corporation globally, trailing after Microsoft, Apple, and Saudi Aramco.
The company’s market capitalization closed the day slightly under $2 trillion. Nvidia, established in 1993, is now seen as a pivotal company to monitor as AI-driven technology proliferates in the corporate sector. Over the past year, the firm’s shares have increased by more than threefold, rising from around $240 per share to almost $800 during mid-day trading on Friday.