Nvidia Surpasses $1 Trillion Market Capitalization

Following its continued ascension amid the recent popularity of AI, Nvidia has surpassed $1 trillion in market capitalization. Subsequently, the company now represents the first chipmaker to ever achieve the feat, with its stock currently exceeding $400 a share. 

The California-based company has joined a host of tech giants to surpass the market cap figure. Specifically, those include iconic brands like Microsoft, Alphabet, Amazon, and Apple. However, its increase has come from a 165% rally this year.

Nvidia Reaches $1 Trillion Market Cap

The rising prevalence of artificial intelligence and generative AI has been the story of the year thus far. Following the viral sensation of companies like OpenAI and its chatbot ChatGPT, the tech industry has seen its next great evolution. 

Now, chipmaker Nvidia has ridden that wave to surpass the $1 trillion mark in market capitalization. Subsequently, the chipmaker has greatly benefited from the AI surge. Specifically, because of its development of graphics cad sans server products that aid the industry. 

Source: CNBC

Nvidia’s market cap accomplishment follows its unveiling of a host of new projects on Monday. Moreover, the company introduced a new supercomputer and a generative AI platform to aid video game development. 

Shares of the company had increased 26% last week after it showed quarterly results. that exceeded expectations. Additionally, the company noted its expectation of $11 billion for the second quarter. 

Raymond James Managing Director Srini Pajjuri recently discussed the company in a note to investors. Specifically, they stated, “There’s a war going on out there in AI, and Nvidia today is the only arms dealer out there.”

  • Nvidia

Comments

Post a Comment

Popular posts from this blog

Investor Says BTC And cryptos Are Primed For A Big Turnaround

Image
A trader who is known for correctly calling the bottom of the crypto market in 2022 says that now “seems like a great time” for the market to turn around. Chris Burniske, a venture capitalist, tells his 260,100 Twitter fans that there are a lot of things going for Bitcoin (BTC) and other crypto currencies. “BTC at [200-week simple moving average], worst of Fed action is behind us, credit crunch is there but not a crisis, US gov unlikely to default, equities rallying while crypto lags — seems like a prime time for us to reverse — what am I missing?” Burniske also says that it looks like “a new product cycle” is about to start in the crypto world. “The availability of mature infrastructure for products to use is leaps and bounds beyond the last time this happened w/ DeFi (decentralized finance) Summer in 2020. If you’re not getting excited, you’re not paying close enough attention.” The venture investor is especially excited ...
Read more

Taurus and Teylor collaborate to tokenize German SME loans on TDX Marketplace

Taurus and Teylor Partnership. Teylor’s credit portfolio tokens, overseen by Allen and Overy, become tradeable on Taurus’ TDX marketplace. Taurus’ TDX marketplace, with $1 billion+ in transactions, solidifies Switzerland’s role in institutional-grade blockchain treatment for diverse asset classes. In a groundbreaking move, Swiss crypto custody firm Taurus, backed by Deutsche Bank, has joined forces with Zurich-based fintech lending platform Teylor. The collaboration aims to tokenize Teylor’s credit portfolio tokens, allowing them to be traded on Taurus’ TDX marketplace, signalling a significant step in the tokenization of traditional finance. Tokenizing German SME loans on TDX Marketplace Taurus and Teylor collaboration centers on tokenizing Teylor’s credit portfolio tokens, a move that aligns with the global trend of digitizing traditional financial assets. Overseen by law firm Allen and Overy, Teylor’s cred...
Read more

Zeebu Celebrates a Resounding Success at Exclusive Yacht Party during Token2049 Singapore

Image
Singapore – September 20, 2023   – Zeebu, the pioneering on-chain B2B invoice settlement platform, successfully concluded its Yacht Party during TOKEN2049 in Singapore on September 14th, 2023, setting the stage for an unforgettable evening. The event was a resounding success, attracting a significant number of industry leaders, experts, and investors for an evening of networking and insightful discussions. The Yacht Party also garnered attention from major industry media outlets, including Coingape and Bitcoinworld, further amplifying its impact.   Zeebu made its debut as a sponsor at TOKEN2049 Singapore, reinforcing its position as a key player in the industry’s premier event. The week was filled with excitement for the Zeebu team, with their booth at TOKEN2049 serving as a hub of activity. Zeebu’s co-founder and CMO, Raghavendra Hunasgi, delivered a keynote speech at the conference, further highlighting Zeebu’s commitment to the industry. In addition, Zeebu co-hoste...
Read more