Nvidia hits $1 trillion market cap

Nvidia has hit a $1 trillion market cap at the open on Tuesday.

The chipmaker joined the exclusive 1 trillion dollar club of companies as its shares breached $404.86.

The chipmaker’s stock rocketed last week after it posted quarterly earnings with top- and bottom-line numbers that significantly beat consensus estimates.

Significantly, Nvidia forecast $11 billion in sales for the fiscal second quarter of 2024 alone. Expected sales were 50% higher than consensus estimates of $7.15 billion.

Nvidia’s graphics processing units, or GPUs, are critical to generative AI platforms like OpenAI’s ChatGPT and Google’s Bard.


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