Nvidia is one of the biggest names in the gaming industry, providing GPUs for high-power applications across the board. However, while the company has traditionally been a big name in terms of share values, this week has proven very significant overall. Indeed, the company has just topped the $1 trillion value for shares, making it one of the biggest names in the tech scene.
Topping at Over One Trillion
Founded in 1993, NVIDIA has rapidly grown over the years to become a highly prominent player in the computer hardware industry, becoming most well-known for its range of computer chip GPUs. Nowadays, the company brings in around six to seven billion each quarter in sales overall.
The power of their products means they are often used in the gaming field (especially its GeForce series), along with professional visualization, artificial intelligence, and data centers, to name a handful of the opportunities. These may continue to develop with the widespread rollout of artificial intelligence, too.
Despite its relatively affordable past, Nvidia’s shares have climbed significantly in recent times, with share prices up by around 134% since six months ago and a whopping 180% by year to date. This has helped the chipmaking brand achieve an impressive share price of about 400 cents per share over the course of the trading day.
A 52-Week High
Things kicked off on a high note for Nvidia at the opening of the stock market this morning, with a staggering share price high of over four hundred and sixteen cents per share. Prices remained somewhat stable until around lunchtime, following which point, share prices began to decline again.
Driven By AI’s Success
One of the significant driving forces behind Nvidia’s massive growth is likely to be AI (artificial intelligence), which has invoked much broader interest in the technology field. This continued growth is something that Nvidia has harnessed with its own shares, allowing the brand to grow at an incredibly fast pace.
Slight Drop Before Closing
While Nvidia may have had a very successful day in topping the one trillion market cap, it’s important to remember that the shares have fluctuated significantly throughout the day, leading to their eventual closing price of less than the peak.
Indeed, at 7:55 pm, the shares had fallen to around three hundred and ninety-eight cents per share. Still no shabby sum, though.
As such, this represents a relatively significant drop of almost twenty cents. Still, it’s not as if Nvidia is facing particular difficulties in share price value at the minute after setting this new 52-week high record.
Whether the brand will be able to sustain this impressive trading price is yet to be seen, of course. The value has closed at below the day’s opening, and after broaching that trillion market cap, the value then dropped slightly back to $990 billion. Nevertheless, even with the slight drop, it still remains one of the most valuable companies on the stock exchange, putting it up there with Apple, Amazon, Microsoft, and Alphabet.
With Nvidia’s market cap reaching $1 trillion, it’s interesting to contrast this success in the tech industry with the shifting schedule of the anticipated Apple Watch Ultra launch.