Nvidia became the first chipmaker to join the $1 trillion market-capitalization club in 2023.
Nvidia’s market value passed $1 trillion during trading on May 30, 2023. The company’s share price surged after its earnings outlook highlighted exceptional demand for graphics processors used in artificial-intelligence computing.
Nvidia began as a designer of graphics processing units, or GPUs, for computer games. Its CUDA software platform later helped developers use those processors for scientific computing and machine learning. That combination of specialized hardware and software positioned Nvidia at the center of the generative-AI boom.
The milestone is sometimes described as an achievement by the wider semiconductor industry, but Nvidia was the company that crossed the threshold. Taiwan Semiconductor Manufacturing Company makes chips for many designers, while Intel and AMD operate different combinations of chip design and manufacturing businesses.