• WWDC 2025
  • Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Home Enterprise

Nvidia Achieves $1 Trillion Market Cap, Joins Elite Group Of Tech Companies

Paul Balo by Paul Balo
May 30, 2023
in Enterprise
Share on FacebookShare on Twitter

Nvidia, the renowned chipmaker, reached a significant milestone as its market cap surpassed $1 trillion at Tuesday’s opening, placing it among a select group of primarily technology companies. To maintain this distinction throughout the day, Nvidia’s shares must remain above $404.86.

Although the stock experienced a slight decline in late afternoon trading, falling just below the trillion-dollar valuation, it still held on to a fresh 52-week high. Last week, Nvidia’s shares surged after the company reported quarterly earnings that surpassed consensus estimates by a significant margin, both in terms of revenue and profitability. This surge not only boosted other chipmakers but also led to a more optimistic outlook than expected.

An important factor contributing to Nvidia’s rise was its projection of $11 billion in sales for the second quarter of fiscal year 2024, which was 50% higher than the consensus estimate of $7.15 billion.

The chip industry, certain segments of the tech sector, and the Nasdaq have experienced a remarkable year, driven in part by the artificial intelligence frenzy and the potential slowdown of Federal Reserve rate hikes. Alongside Nvidia, companies like Alphabet, Meta, and Microsoft also witnessed significant gains in last week’s trading.

Nvidia’s graphics processing units (GPUs) play a critical role in generative AI platforms such as OpenAI’s ChatGPT and Google’s Bard. While the company has long been a leader in discrete or stand-alone GPUs, consumer perception used to primarily associate GPUs with intensive gaming. However, the emergence of cryptocurrency mining and AI has changed this perception, leading to a substantial increase in share prices for GPU manufacturers and suppliers, including Nvidia, Advanced Micro Devices, and Taiwan Semiconductor Manufacturing.

In contrast, Intel, which has faced challenges related to inventory and development, has traditionally focused on central processing units (CPUs) for the chip market. As a result, Intel has not shared in the same wave of investor interest as its GPU-focused counterparts.

Related Posts:

  • Market-expert-predicts-when-Nvidia-stock-will-enter-next-major-rally
    Nvidia Plunges to 3rd, Loses $500B to DeepSeek AI Surge
  • nvidia
    Nvidia Is Now Second Most Valuable Company In The…
  • nvidia-blogroll-logos-1708718418344-1717630971898
    Nvidia Becomes Most Valuable Public Company By Market Cap
  • Nvidia Hits $1 Trillion Market Cap
  • apple-e1639030611190
    Apple Becomes First $3 Trillion Market Value Company
  • nvidia1
    FYI, Nvidia Is Back as The Biggest Company in The…
  • tradingview_01fd21ce9094b-7e6ff5ad9fad8d3363cbeee3f95e9ce0-resized
    Nvidia 1st Quarter Earning Soars By 262% Owing To AI Demand
  • Nvidia Blames Lower Sales Of Its Gaming Products For Its Lower-than-expected Earnings Results
    Nvidia Blames Lower Sales Of Its Gaming Products For…

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Tags: market capnvidiaone trillion
Paul Balo

Paul Balo

Paul Balo is the founder of TechBooky and a highly skilled wireless communications professional with a strong background in cloud computing, offering extensive experience in designing, implementing, and managing wireless communication systems.

BROWSE BY CATEGORIES

Receive top tech news directly in your inbox

subscription from
Loading

Freshly Squeezed

  • Apple Launches EnergyKit for Smart Home Efficiency June 12, 2025
  • Multiverse Computing Raises $215M to Reduce AI Computing Costs June 12, 2025
  • Argentina, Hong Kong, and Thailand Get Threads DM First June 12, 2025
  • OpenAI to Use Google Cloud for Computing Infrastructure June 12, 2025
  • MultiChoice’s Side Projects Grow as TV Business Declines June 12, 2025
  • South African Fibre Company Announces Job Cuts June 12, 2025

Browse Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    

Quick Links

  • About TechBooky
  • Advertise Here
  • Contact us
  • Submit Article
  • Privacy Policy
  • Login

© 2021 Design By Tech Booky Elite

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • WWDC 2025
  • Artificial Intelligence
  • Gadgets
  • Metaverse
  • Tips
  • About TechBooky
  • Advertise Here
  • Submit Article
  • Contact us

© 2021 Design By Tech Booky Elite

Discover more from TechBooky

Subscribe now to keep reading and get access to the full archive.

Continue reading

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok