Excerpted from the Wall Street Journal. Apple and Microsoft are both worth over $4 trillion.
NvidiaNVDA 2.99%increase; became the first company to hit $5 trillion in market value, the latest milestone in an unprecedented surge that reflects the growing influence of artificial intelligence on markets and the economy.
The chip maker’s stock rose about 3% Wednesday to $207.16, giving it a market cap of $5.03 trillion.
Shares have been boosted by exuberance for AI’s potential and a recent flurry of deals and partnerships with some of the biggest companies in AI and corporate America, from OpenAI and Oracle to Nokia and drugmaker Eli Lilly. Enthusiasm for Chief Executive Officer Jensen Huang’s speech in Washington, D.C., also juiced gains this week.
“They’re the linchpin of this entire AI trade,” said Angelo Zino, senior vice president at CFRA Research.
Nvidia is now larger than AMD, Arm Holdings ARM -1.56%decrease, ASML, Broadcom, IntelINTC , Lam ResearchLRCX 3.25%increase, Micron Technology MU 2.13%increase, Qualcomm and Taiwan Semiconductor Manufacturing combined, according to Dow Jones Market Data. Its value also exceeds entire sectors of the S&P 500, including utilities, industrials and consumer staples.
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