Nvidia officially closes in $1 trillion territory, becoming seventh U.S. company to hit market-cap milestone
The chip giant accomplished something it had failed to do late last month as it officially closed with a market capitalization above $1 trillion. Nvidia shares NVDA previously flirted with intraday levels that would have equated to a $1 trillion valuation but failed to finish a trading session above the mark.The chip giant accomplished something it had failed to do late last month as it officially closed with a market capitalization above $1 trillion.
The market-cap milestone comes amid a stunning year-to-date rise for Nvidia shares, which are up 181% over that span amid optimism about the company’s ability to benefit from a growing rush among companies to train and deploy artificial intelligence. Nvidia is “uniquely positioned with a full-stack of AI silicon, software, scale, supply and developer ecosystem to transform the nearly $1 trillion traditional data-centers market,” BofA Securities analyst Vivek Arya wrote in a late May note to clients.
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