Before reporting earnings last week, Nvidia had a market cap of around $750 billion. Just a week later, the chipmakers have surpassed the $1 trillion mark, joining a small, elite crew of some of the largest tech giants in the country.
The more than $200 billion addition to its market cap came on the heels of a powerful double earnings beat and a record, $11 billion revenue forecast for the current quarter.
The beat and forecast were all driven by surging demand for artificial intelligence.
Here are the four other companies that reside in the hallowed halls of a $1 trillion market cap (or more).
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The number four slot goes to the massive online retailer Amazon, which has a market cap of $1.25 trillion. The tech company, founded in 1994 by Jeff Bezos, got its start as an online bookstore. Now, though, (AMZN) has its hand in a bunch of baskets, focusing on its own AI models, tech products, online retail and streaming.
Next up is Google, with a market cap of $1.57 trillion. (GOOGL), which was founded in 1998, revolutionized internet search and is seeking to stay on the cutting edge with its work on AI and quantum computing.
Second place (sorry, Bill) goes to Microsoft, a software and technology giant co-founded in 1975 by Bill Gates. Like its peers, (MSFT), in addition to its search engines, software and video games, is hard at work on its own AI development. Microsoft has a market cap of $2.47 trillion.
And the world's largest company by market cap (and revenue) is the famed iPhone maker, Apple. Founded in 1976 by the late Steve Jobs and his partner, Steve Wozniak, (AAPL) started as a computer company and has since changed the world with the introduction of the smartphone.
The tech behemoth has a market cap of $2.8 trillion.
"Apple‘s in control of its own destiny. It’s the best at what it does," celebrity investor Jim Cramer, who is also bullish on Nvidia, said May 23. "Apple takes something you didn’t even know you needed and turns it into something that’s indispensable.
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