Nvidia became the first chip designer to join the $1 trillion market-capitalization club.
Nvidia crossed the $1 trillion valuation threshold during trading on May 30, 2023. The company’s share price surged after investors responded to strong demand for its graphics-processing units and forecasts tied to artificial-intelligence computing. Nvidia was founded in 1993 by Jensen Huang, Chris Malachowsky, and Curtis Priem.
Nvidia began by developing graphics processors for computer games and professional visualization. Its technology later became important for parallel computing, data centers, scientific applications, and machine-learning systems. That expansion helped investors value the company far beyond the traditional personal-computer graphics market.
The wording “chip designer” is useful because Nvidia generally designs processors and platforms while relying on specialist manufacturers to fabricate many of its chips. It is also distinct from Intel, which historically combined chip design and manufacturing, and from Qualcomm, which is especially associated with mobile communications technology.