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Bank of America
$350 billion
Nvidia spent three decades building a business worth $1 trillion. It spent two years turning itself into a $4 trillion company.
On Thursday, the world’s leading provider of computer chips for artificial intelligence became the first public company worth $4 trillion, after its stock ended the day trading just above $164 a share. It achieved the milestone before an array of better-known tech heavyweights, including Apple and Microsoft.
Nvidia’s rise is among the fastest in Wall Street history, and a testament to investors’ belief that artificial intelligence will deliver an economic transformation that rivals the Industrial Revolution’s.
More than any other company, Nvidia jump-started the A.I. frenzy. Jensen Huang, the company’s chief executive, bet a decade ago that chips known as graphics processing units, or GPUs, would make it possible to build artificial intelligence systems. He poured billions of dollars into software for A.I. developers.
The bet paid off in 2022 when OpenAI released ChatGPT, igniting a frenzied race to develop A.I. systems and products. In recent months, tech titans have showered A.I. experts with $100 million checks and set out to spend tens of billions of dollars on data centers that consume more electricity than a million homes.
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