© Reuters. FILE PHOTO: A smartphone with a displayed NVIDIA logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration
(Reuters) – Nvidia (NASDAQ:) Corp on Tuesday became the first chipmaker to join Wall Street’s trillion-dollar club dominated by technology heavyweights such as Apple Inc (NASDAQ:) and Microsoft Corp (NASDAQ:).
The boom in artificial intelligence (AI) technology has driven a threefold surge in Nvidia’s stock valuation in less then eight months, helping the chipmaker hit the trillion-dollar mark about 24 years after going public. iPhone maker Apple took 38 years to cross the lofty milestone.
Meta Platforms Inc (NASDAQ:) and Tesla (NASDAQ:) Inc, now valued at more than $600 billion, had briefly hit a trillion in valuation in 2021, before falling back into the billions.
The tech-heavy has gained about 25% so far this year, after falling 33% in 2022.
Here is a list of companies with trillion-dollar market capitalizations, and those nearing the milestone:
COMPANY NAME MARKET VALUATION YEAR OF YTD
LISTING PERFORMANCE
COMPANIES THAT HAVE REACHED $1 TRILLION IN VALUATION
Apple Inc $2.79 trillion 1980 up 36.7%
Microsoft Corp $2.47 trillion 1986 up 38.6%
Alphabet (NASDAQ:) Inc $1.58 trillion 2004 up 40.3%
Amazon.com Inc (NASDAQ:) $1.25 trillion 1997 up 44.6%
Nvidia Corp $1 trillion 1999 up 176.5%
COMPANIES NEARING $1 TRILLION IN MARKET CAPITALIZATION
Meta Platforms Inc $680.86 billion 2012 up 120.4%
Tesla Inc $632.95 billion 2010 up 62.5%
Visa Inc (NYSE:) $451.07 billion 2008 up 6.2%
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