Nvidia ended trading Tuesday with a valuation of more than $1 trillion, becoming the seventh U.S. company to reach that status.
Shares of the chip maker have risen 181% this year, fueled by the boom in artificial intelligence that Chief Executive Officer Jensen Huang recently said was ushering in “a new computing era.”
Big tech companies and startups are spending billions of dollars on AI technology. Nvidia is a beneficiary of those investments because its semiconductors are seen as essential in building the largest, most powerful AI systems.
Read the full story on The Wall Street Journal here.