Nvidia’s market valuation fleetingly crossed the $1 trillion threshold Tuesday after the chipmaker’s artificial intelligence prospects vaulted it into an elite club of just five American companies.
The stock rose as much as 7.7% early in the session, putting Nvidia well into $1 trillion territory, before retreating from the milestone during the afternoon. Alphabet, Amazon.com, Apple and Microsoft are the only other U.S. businesses to have trillion-dollar valuations, and fewer than 10 companies globally have achieved the distinction.
Nvidia was up 3% to $401.11 as of the close in New York, putting its market capitalization at $990.7 billion.