Nvidia became the first chip designer to exceed a $1 trillion market capitalization in 2023.
Nvidia passed the milestone in May 2023 after reporting a strong outlook for demand for its data-center products. Investors viewed the company’s graphics processors as essential infrastructure for training and running artificial-intelligence systems, including large language models.
Nvidia was founded in 1993 and became famous for graphics processing units used in personal computers and video games. Its chips later found major uses in professional visualization, scientific computing, cloud data centers, and machine learning.
The company’s market value rose rapidly as AI investment accelerated. Nvidia designs chips but relies on outside manufacturers, especially Taiwan Semiconductor Manufacturing Company, for much of its physical production. That distinction separates Nvidia from an integrated manufacturer such as Intel.