Nvidia Has Become The Largest Chipmaker In The US By Capitalization, Overtaking Intel
Nvidia Corp became the largest chipmaker in the United States by market value for the first time, overtaking Intel Corp in Wednesday's trading results.
Nvidia's stock price rose 3.5% on the day to $408.64. As a result, the company's capitalization reached $251.31 billion.
Intel securities rose 0.5% to $58.61. As a result, the chipmaker's market value rose to $248.16 billion, according to FactSet data.
Over the past year, Nvidia's share price has soared by 74%, while Intel's capitalization has declined by 2%. For comparison, the value of the Nasdaq Composite stock index increased by 17% during this period, and the Standard & Poor's 500 - decreased by 1.9%.
Nvidia has overtaken Intel for the first time in the race for the title of the largest American manufacturer of microprocessors. Previously, this was done by Texas Instruments Inc. (several times in 1999 and 2000) and Qualcomm Inc. (from the end of 2012 to the middle of 2014, the companies repeatedly changed places in the first and second positions), according to Dow Jones.