Which company became the first chipmaker to reach a $1tn valuation?

Nvidia is the leading producer of graphics processing units (GPUs), essential for running complex AI models that generate human-like content. The company’s shares have soared by more than 200% since October 2023 as investors were impressed by its revenue forecast and generative AI innovation. On May 30, 2023, Nvidia briefly joined the exclusive club of US companies with a market value of $1tn. This club includes Apple, Alphabet, Microsoft, and Amazon.