Nvidia temporarily became a $1 trillion company on Tuesday morning, with its rising valuation fueled by technology companies large and small racing to add generative artificial intelligence tools to their products. AI tools have made up the bulk of recent Google I/O and Microsoft Build presentations, and Nvidia’s chips make it a key supplier to companies trying to build something with AI.
Its valuation passed the trillion-dollar benchmark when it opened trading today at just over $405 a share, putting it into thin air previously occupied by just a few big companies like Apple and Microsoft after they made significant border in August 2018 and August. 2019, respectively. Amazon and Google are the other tech stocks in the club, and Meta is a former member.
When the market closed on Monday, the share price had fallen to $401.11 after peaking at around $419. That gives Nvidia’s stock a value of “only” $992 billion or so, taking it out of the $1 trillion club for now.
Update May 30, 7:39 PM ET: Updated to reflect NVDA’s closing price.
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