NVIDIA market cap cracks US$1 trillion mark for first time

NVIDIA has officially joined Apple, Google and Meta in the 'trillion-dollar market cap' club today (May 30, 2023) - so long as its share price stays at US$404.86 or higher, that is. Nevertheless, it can now always say that it was worth as much as Amazon at once stage, at least.

Team Green's rise to a twelve-figure capitalization is, of course, related to the pivotal role it has taken in providing the silicon and solutions necessary for AI at the biggest scale possible, such as the Grace Hopper 'superchip' unveiled during Computex 2023 - which Jensen Huang would clearly prefer people "buy more, save more" (and not think too much about) on rather than focusing on less successful areas of his OEM's business as of late.

The company's milestone achievement has also had a positive impact on the share prices of others by association, Marvell and Broadcom included. It may also be linked to a market rally for tech giants such as AMD in general, albeit less so for Intel and Qualcomm. Going forward, NVIDIA may have a good shot of maintaining its new market cap with projections of sales totaling US$11 billion by its next second fiscal quarter (2QF2024).

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