Nvidia becomes first chipmaker valued at over $1 trillion

Nvidia Corp breached the $1 trillion in market capitalization on Tuesday, making it the first chipmaker to join the trillion-dollar club.

The gaming and AI chip company, whose shares rose 4.2% in early trading on Tuesday, was valued at $1 trillion.

Taiwan Semiconductor Manufacturing Co Ltd is the next largest chipmaker globally, valued at about $535 billion.

Meta Platforms Inc, valued at about $670 billion as of last close, clinched the trillion-dollar market capitalization milestone in 2021, while Apple Inc, Alphabet Inc, Microsoft Corp and Amazon.com Inc are the other U.S. companies that are part of the club.