Nvidia became the first semiconductor business to surpass a $1 trillion market capitalization in 2023.
Nvidia crossed the $1 trillion threshold in May 2023 after reporting exceptionally strong expectations for demand for its data-center processors. Investors viewed the company as a leading supplier of the hardware used to train and run generative artificial-intelligence systems.
Nvidia was founded in 1993 by Jensen Huang, Chris Malachowsky, and Curtis Priem. It initially became widely known for graphics-processing units used in personal computers and video games, then expanded into professional visualization, cloud computing, and artificial intelligence.
The milestone is sometimes confused with Taiwan Semiconductor Manufacturing Company, or TSMC, which is a major chip manufacturer and also reached trillion-dollar valuations in later market cycles. Nvidia designs chips, while TSMC primarily manufactures chips for other companies.