Nvidia Corporation is an American multinational technology company headquartered in California. As a software and fabless company (Fabless manufacturing is the focus on designing and selling hardware devices and semiconductor chips, while entrusting the actual manufacturing process to external manufacturers), they specialize in designing graphics processing units (GPUs) that have become the standard for high-performance computing, as well as developing application programming interfaces (APIs) for data science and AI-driven applications.
Due to the unprecedented surge in the Artificial Intelligence space, the company’s market capitalization reached an impressive $1 trillion on Tuesday. Market capitalization represents the aggregate value of a publicly traded company’s outstanding common shares that are held by its stockholders.
This trillion-dollar feat places Nvidia among a select group of just nine companies worldwide to reach this milestone, joining the ranks of industry titans such as Apple, Amazon, and Saudi Aramco (also known as the Saudi Arabian Oil Group, is a company focused on the exploration, production, refining, and distribution of petroleum and natural gas) etc.
The market has responded favorably to their success, with its stock experiencing a remarkable ascent of approximately 180% since the beginning of the year.