By Reuters
Chipmaker Nvidia became the first public company to top $4 trillion in value Wednesday after a two-year investor frenzy driven by the artificial intelligence boom.
Nvidia shares rose 2.5%, in early trading Wednesday, topping $164 each. At the beginning of 2023, Nvidia shares were around $14 each. The company’s rise has been meteoric.
The Santa Clara, California, company, was founded in 1993. In just over a decade, it was worth $2 trillion. In June 2024, it reached $3 trillion.
Nvidia quickly surpassed Microsoft, Apple, Amazon and Google parent Alphabet. The stock’s movement carries more weight on the S&P 500 than any other company.
In its most recent quarter, Nvidia overcame tariff-driven turbulence to deliver another quarter of robust growth amid feverish demand for its high-powered AI chips. Nvidia notched a profit of $18.8 billion as its revenue surged 69% to $44.1 billion.
Nvidia reports its second-quarter results next month. Wall Street is
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