Nvidia temporarily became a $1 trillion company on Tuesday morning.
When the market closed on Monday, the share price had fallen back to $401.11 after peaking at about $419. That gives Nvidia’s stock a value of “just” $992 billion or so, taking it out of the $1 trillion club, for now.
The last quarterly earnings report from Nvidia noted over $2 billion in profit in three months. This latest push comes after Nvidia’s business boomed early in the pandemic during a GPU shortage while they were in demand for PC gaming and cryptocurrency mining before those markets fell back throughout 2022.
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