New York (CNN) � Nvidia joined an exclusive club on Friday morning when its market value topped $2 trillion, just days after the chipmaker reported gangbusters earnings that once again swept Wall Street into an artificial intelligence-induced fervor.
But the chipmaker’s stock pared some of its gains later in the day, leading its value to edge below the $2 trillion threshold by the market’s close.
Nvidia added a staggering $273 billion to its market cap on Thursday, the biggest single-day jump of any company on record, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. That came after the company on Wednesday evening in fourth-quarter profit and a 580% jump in full-year profits from the year earlier, blowing past analyst’s expectations.
Only a handful of companies have ever hit the $2 trillion milestone, including Apple and Microsoft.
Nvidia’s latest achievement comes after the company Amazon and Alphabet in market value and become the third-largest company on Wall Street behind Microsoft and Apple.
The company hit a $1 trillion market cap in 2023, about 24 years after going public.
Its meteoric growth over the past year came as artificial intelligence mania consumed Wall Street and helped power a ferocious bull market. The S&P 500 and Dow Jones Industrial Average indexes on Thursday, after Nvidia’s eye-popping earnings fueled a broad rally.
Nvidia has emerged the poster child of AI on Wall Street, in part because it is . The American chipmaker is unmatched in producing processors that power artificial intelligence systems, including for generative AI, the buzzy new technology that can create text, images and other media.
� CNN’s Clare Duffy contributed to this report.
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