Nvidia’s startling ascent in the stock market reached another milestone Tuesday as the chipmaker rose to become the most valuable company in the S&P 500. Investors now say the company is worth over $3.3 trillion.Nvidia has seen soaring demand for its semiconductors, which are used to power artificial intelligence applications.
Revenue more than tripled in the latest quarter from the same period a year earlier.The company’s journey to be one of the most prominent players in AI has produced some eye-popping numbers. Here’s a look:Nvidia’s total market value as of the close Tuesday. It edged past Microsoft ($3.317 trillion).
Apple is the third most-valuable company ($3.286 trillion). One year ago, the company had just crossed the $1 trillion threshold.Nvidia’s closing stock price Tuesday. Two weeks ago the stock traded at more than $1,200, but the company completed a 10-for-1 stock split after trading closed on June 7.
That gave each investor nine additional shares for every share they already owned. Companies with a high stock price often conduct stock splits to make the stock more affordable for investors