Nvidia’s Hits $1 Trillion Market Cap for the First Time With 3% Gain

Nvidia moved into an elite position of companies valued at $1 trillion and more. After attaining that height, they ended the trading session. Shares saw a new lift as the company announced new products that were centered around artificial intelligence over the weekend.

Nvidia Corporation also increased by 182% in 2023 on speculation that the company will emerge as the leader of the AI race.

On Tuesday, the company rose by 7.7% to $419.38 giving it a market cap of $1.036 trillion which contributed to making it the first chip maker to attain a $1 trillion market capitalization. At the end of the day, it finished higher by 3% at $401.11 making a market cap of $990 billion.

In the list of tech companies with a valuation of $1 trillion, we have Apple, Amazon, Microsoft, and Alphabet.

Going back to Nvidia's rise, the majority of investors and analysts believe that Nvidia will be the best option to supply GPUs that can power chatbots like Google's Bard, and OpenAI's ChatGPT. 

After Tuesday's announcement of the new AI-related products which include Grace Hopper super chips and its DGX GH200 AI Supercomputer that also assisted in the rise in Nvidia's shares that same day.

Additionally, Nvidia is developing collaborations, such as constructing a platform for computer-generated advertisements in collaboration with the advertising powerhouse WPP.

The CEO of Nvidia also stressed the fact that anyone can be a programmer with new AI tools available, he made this statement during the Computex conference in Taipei on Monday.

These were his words "The programming barrier is incredibly low, everyone is a programmer now—you just have to say something to the computer."

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