Nvidia hits historic milestone as world’s first $5 trillion company
Nvidia, a multinational technology company that designs and produces graphics processing units (GPUs) and artificial intelligence (AI) technology, made history on Wednesday by becoming the first public company to hit a $5 trillion market capitalisation.
The U.S. chip-making company reached this historic milestone, breaking the $4 trillion market valuation it set just three months ago.
Nvidia’s shares (NVDA) rose by 3 per cent after the market opened on Wednesday to hit the $5 trillion milestone.
In about 13 months, Nvidia has grown from $3 trillion to $4 trillion and now $5 trillion in valuation. This year alone, its stock has gained about 50 per cent amid the boom in demand for artificial intelligence.
Though not as famous as other global tech brands like Microsoft, Apple, and Amazon, Nvidia has now set a record as the first company to hit both $4 trillion and $5 trillion in market valuation.
Founded in 1993 by Jensen Huang, Chris Malachowsky, and Curtis Priem, the renowned chipmaker’s fortune continues to grow, hitting an all-time market valuation after it began producing chips for AI.
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