Nvidia Corp (NVDA) achieved an incredible milestone on Tuesday when its market value rose to over $1 trillion. This puts the chipmaker in the same exclusive club as other U.S. giants such as Apple, Microsoft, Alphabet, Amazon and Saudi Aramco.
The sentiment around Nvidia’s success is part of the larger AI boom, which has also seen a surge in cryptocurrencies powered by artificial intelligence. Tokens like Render (RNDR), SingularityNET (AGIX), Fetch.ai (FET) and Akash Network (AKT) all rose by more than 5% on Tuesday.
Nvidia’s rise in the market has been remarkable. The company’s valuation has doubled in the past six months, mainly driven by the high demand for generative AI tools. Holger Zschaepitz reported on this success in a tweet.
Leading the way in the $1 trillion club is Apple with a market cap of over $2.8 trillion. Microsoft Corp is valued at $2.47 trillion, Alphabet at $1.57 trillion, Amazon at $1.24 trillion and Saudi Aramco is the non-US company in this category. Tesla, Meta, and PetroChina have also previously hit the milestone.