Nvidia eclipses $1 trillion market capitalization on artificial intelligence boom

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FILE – People gather in the Nvidia booth at the Mobile World Congress mobile phone trade show Thursday, Feb. 27, 2014 in Barcelona, Spain. The Securities and Exchange Commission says it’s settled charges against Nvidia, Friday, May 6, 2022, for “inadequate disclosures” related to cryptomining’s impact on its gaming business. The technology company will pay a $5.5 million penalty and has agreed to a cease-and-desist order. (AP Photo/Manu Fernandez, File) Manu Fernandez/AP

Nvidia eclipses $1 trillion market capitalization on artificial intelligence boom

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The semiconductor company Nvidia crossed the trillion-dollar market capitalization mark Tuesday, riding an artificial intelligence-propelled boom to become the fifth company to pass the historic threshold.

The company joins Apple, Amazon, Alphabet and Amazon in the trillion-dollar market cap club.

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The company’s surge was sparked by the increased use of artificial intelligence products like OpenAI’s ChatGPT, which usually require Nvidia processors in order to operate.

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