(Reuters) - Nvidia (NASDAQ: NVDA ) Corp on Tuesday became the first chipmaker to join Wall Street's trillion-dollar club dominated by technology heavyweights such as Apple Inc (NASDAQ: AAPL ) and Microsoft Corp (NASDAQ: MSFT ).
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.
The tech-heavy Nasdaq Composite 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
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: GOOGL ) Inc $1.58 trillion 2004 up 40.3%
Amazon.com Inc (NASDAQ: AMZN ) $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: V ) $451.07 billion 2008 up 6.2%
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.