On Wednesday, Nvidia became the first company in the world to reach a market capitalization of $5 trillion. We look back at this historic achievement, which follows a rise of more than 50% in the share price since the beginning of the year.
Nvidia reaches $5 trillion market capitalization
Nvidia has long been the most highly capitalized company of all time on the list of the world’s most highly capitalized assets. However, the computing power giant made headlines again yesterday when it surpassed $5 trillion in market capitalization for the first time:
What makes this performance even more remarkable is that last July, Nvidia already achieved a world first by exceeding $4 trillion in market capitalization. Now, Apple and Microsoft have also joined this very exclusive club.
Since the beginning of the year, NVDA shares have risen by more than 50%:
This positive momentum comes after Nvidia announced on Tuesday that seven new supercomputers dedicated to artificial intelligence would be deployed for the US government. Jensen Huang, founder and CEO of Nvidia, spoke of a new industrial revolution:
We are on the cusp of the AI industrial revolution that will define the future of every industry and every nation. It is imperative that America leads the race to the future; this is the defining moment of our generation. The next wave of inventions, discoveries, and progress will depend on our nation’s ability to develop its AI infrastructure. Together with our partners, we are building the most advanced AI infrastructure ever created, securing America’s foundation for a prosperous future and ensuring that global AI is built on American innovation, openness, and collaboration, for the benefit of all.
On the same day, the company also announced a $1 billion investment in Nokia. In the second quarter, Nvidia reported revenue of $46.74 billion and a 61% year-over-year increase in profit.
