{"id":22174,"date":"2023-06-13T17:30:05","date_gmt":"2023-06-13T21:30:05","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/nvidia-officially-closes-in-1-trillion-territory-becoming-seventh-u-s-company-to-hit-market-cap-milestone\/"},"modified":"2023-06-13T17:30:06","modified_gmt":"2023-06-13T21:30:06","slug":"nvidia-officially-closes-in-1-trillion-territory-becoming-seventh-u-s-company-to-hit-market-cap-milestone","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=22174","title":{"rendered":"Nvidia officially closes in $1 trillion territory, becoming seventh U.S. company to hit market-cap milestone"},"content":{"rendered":"
\n

Nvidia Corp. officially joined vaunted company Tuesday, becoming just the seventh public U.S. company to finish a trading session in $1 trillion territory.<\/p>\n

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
\n NVDA,
\n +3.90%<\/bg-quote>
\n previously flirted with intraday levels that would have equated to a $1 trillion valuation but failed to finish a trading session above the mark. <\/p>\n

\n

Nvidia\u2019s stock gained 3.9% in Tuesday trading to finish with a market cap of $1.01 trillion. Only Apple Inc.
\n AAPL,
\n -0.26%<\/bg-quote>,<\/span>
\n Amazon.com Inc.
\n AMZN,
\n +0.07%<\/bg-quote>,<\/span>
\n Alphabet Inc.
\n GOOG,
\n +0.06%<\/bg-quote><\/p>\n

GOOGL,
\n +0.15%<\/bg-quote>,<\/span>
\n Tesla Inc.
\n TSLA,
\n +3.55%<\/bg-quote>,<\/span>
\n Meta Platforms Inc.
\n META,
\n +0.10%<\/bg-quote>
\n and Microsoft Corp.
\n MSFT,
\n +0.74%<\/bg-quote>
\n previously crossed the $1 trillion threshold at the close of a trading day, according to Dow Jones Market Data. Tesla and Meta have since dropped out of the $1 trillion club.<\/p>\n

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\u2019s ability to benefit from a growing rush among companies to train and deploy artificial intelligence. <\/p>\n

Read: \u2018Unprecedented\u2019 and \u2018unfathomable.\u2019 Nvidia makes jaws drop on Wall Street as stock explodes higher.<\/strong><\/p>\n

Nvidia is \u201cuniquely positioned with\u00a0a\u00a0full-stack of AI silicon, software, scale, supply and developer ecosystem to transform the nearly $1 trillion traditional data-centers\u00a0market,\u201d BofA Securities analyst Vivek Arya wrote in a late May note to clients.<\/p>\n

Don\u2019t miss: Chip stocks \u2018have gotten ahead of themselves,\u2019 Citi says \u2014 but this \u2018top pick\u2019 can thrive<\/strong><\/p>\n

Shares of Nvidia outperformed the PHLX Semiconductor Index
\n SOX,
\n +1.15%<\/bg-quote>
\n in Tuesday\u2019s session, while shares of rival Advanced Micro Devices Inc.
\n AMD,
\n -3.61%<\/bg-quote>
\n ended 3.6% lower in the day\u2019s trading following a series of product announcements. AMD is looking to compete with Nvidia\u2019s Grace Hopper data-center central processing unit with one new offering.<\/p>\n

See more: AMD is becoming \u2018closest competitor\u2019 to Nvidia in AI hardware, and that could extend stock\u2019s rally<\/strong><\/p>\n

Wallace Witkowski contributed<\/em><\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Nvidia Corp. officially joined vaunted company Tuesday, becoming just the seventh public U.S. company to finish a trading session in $1 trillion territory. 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, +3.90% previously flirted with intraday […]<\/p>\n","protected":false},"author":1,"featured_media":22175,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-22174","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nNvidia officially closes in $1 trillion territory, becoming seventh U.S. company to hit market-cap milestone | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Nvidia Corp. officially joined vaunted company Tuesday, becoming just the seventh public U.S. company to finish a trading session in $1 trillion\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=22174\" \/>\n<meta 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