Nvidia (NVDA). Market capitalization it briefly topped $950 billion in early trading Thursday, pushing to a new record and becoming more valuable than the next five largest U.S. chipmakers combined.
The chipmaker is now worth more than its overall competitor Broadcom (AVGO), AMD (AMD), Texas Instruments (TXN), Intel (INTC) and Qualcomm (QCOM) put together. It’s also just shy of the coveted $1 trillion mark, a feat accomplished by just five American companies — tech giants Apple (AAPL), Amazon (AMZN), Microsoft (MSFT) and parent Google Alphabet (GOOGLE)—have so far been able to achieve.
Nvidia shares posted better-than-expected earnings rises by more than 20% in after-hours trading, and its market capitalization rose by nearly $200 billion in a single session.
Nvidia shares are up an astonishing 130% year-to-date, and have already more than doubled in 2023 ahead of yesterday’s earnings. They far surpassed the wider ones Information Technology sector, which is 25% more than in the same period. Nvidia has returned a whopping 8,800% over the past decade, compared to the 1,150% return to investors of Apple favorite.