The market capitalization of the American chip manufacturer NVIDIA reached $1 trillion at the opening of trading on Tuesday. This was reported by CNBC.

The company’s shares had to be worth $404.86 to hold at that level. But by the end of the day, they lost a little in value, so NVIDIA’s capitalization fell to $990 billion.

The high level of capitalization achieved by the manufacturer puts it on par with companies such as Apple, Alphabet, Amazon and Microsoft, which are valued at $1 trillion and above.

Last week, NVIDIA shares soared after announcing quarterly earnings that were significantly better than market expectations. So, in the first quarter of the fiscal year 2024 received a net profit in the amount of $2.04 billion, or 82 cents per share. A year earlier, the chipmaker’s net profit was lower and was estimated at $1.62 billion, or 64 cents per share.

With all that, already in the current quarter, NVIDIA expects sales of about $11 billion with a possible deviation of 2%. Although on Wall Street, sales of the giant in the II quarter are estimated more skeptically – at the level of $7.15 billion.

We will remind you that the CEO of NVIDIA Jensen Huang during the presentation in Taiwan presented new products and services related to artificial intelligence. The new lineup includes a supercomputing platform, networking technologies, gaming capabilities, and advertising services.