ToplineNvidia’s market capitalization surged past $1 trillion for the first time in the chipmaker’s history Tuesday, as the Silicon Valley behemoth rides Wall Street’s artificial intelligence obsession to new heights. Nvidia CEO Jensen Huang speaks at a press conference Tuesday. AFP via Getty ImagesKey FactsShares of Nvidia rose 4% in early trading, representing a one-day gain of $40 billion and pushing the chipmaker's market value to a hair over $1 trillion. In a note to clients last week, Rosenblatt analyst Hans Mosesmann set a price target for Nvidia’s stock which implied a nearly $1.5 trillion market cap for Nvidia. Nvidia Stock Surges After ‘Cosmological’ Profit Projections (Forbes)Nvidia Nears $1 Trillion Market Capitalization—Closing In On These Other Companies (Forbes)Gamers Are Angry At Stock Market Darling Nvidia—Here’s Why (Forbes)

Source: Forbes May 31, 2023 00:20 UTC