Nvidia (NVDA)'s market capitalization briefly surpassed $950 billion in early trading Thursday, pushing it to a new record and making it more valuable than the next five biggest U.S. chipmakers combined.
The chipmaker is now worth more than the total of competitors Broadcom (AVGO), AMD (AMD), Texas Instruments (TXN), Intel (INTC), and Qualcomm (QCOM) put together. It is also just shy of the coveted $1 trillion valuation, a feat only five U.S. companies—tech giants Apple (AAPL), Amazon (AMZN), Microsoft (MSFT), and Google parent Alphabet (GOOGL)—have been able to attain thus far.
Better-than-expected earnings sent Nvidia's shares soaring more than 20% in after-hours trading and its market cap rose nearly $200 billion in a single session.
Nvidia shares are up a stunning 130% year-to-date, having already more than doubled in 2023 before today’s gain. They’ve far outperformed the broader information technology sector, which is up 25% over the same period. Nvidia has returned a whopping 8,800% over the past decade, compared to a 1,150% return for investor favorite Apple.