Nvidia Corp. headed toward market-capitalization gains of nearly $200 billion in after-hours trading Wednesday, which could put the chip maker within sight of becoming only the seventh U.S. company to top a valuation of $1 trillion.
Nvidia ended Wednesday’s session with a market cap — the total value of all shares in existence — of roughly $754.3 billion, according to FactSet. A 25% increase would add nearly $189 billion to that total, putting the company within striking distance of $1 trillion. Only six U.S. companies have ever attained a $1 trillion market cap: Apple Inc. AAPL and Microsoft Corp. MSFT are currently worth more than $2 trillion apiece; Google parent Alphabet Inc. GOOGL and Amazon.com Inc.
Nvidia is closing in on the rare plateau because of huge gains in its stock this year, as hopes and hype about generative AI have flooded the tech sector. After OpenAI debuted its ChatGPT AI offering, and investor Microsoft Corp. quickly integrated the chatbot into many of its services, expectations for the technology have exploded.
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Source: CNBC - 🏆 12. / 72 Read more »