Nvidia Corporation (NASDAQ: NVDA) and its investors are celebrating as the tech giant’s stock makes an incredible rebound. The company’s shares have more than doubled in the past six months, resulting in a remarkable increase of 134.09%.
The rise in stock value has contributed to Nvidia CEO Jensen Huang’s net worth, which has skyrocketed by $22 billion this year alone. With this surge, his net worth now stands at an impressive $36 billion, propelling him to the 34th spot on the Bloomberg Billionaires Index.
Huang, an electrical and computer engineer who graduated from Stanford University, co-founded Nvidia in 1993 after gaining experience at prominent chip companies. The company initially focused on manufacturing chips for PC graphics but later expanded its reach to the gaming industry. In fact, Nvidia is credited with inventing the GPU or video card in 1999.
Nvidia’s Market Cap Near Trillion Dollars
Nvidia’s remarkable success is evident in its market capitalization, which is set to cross the $1 trillion mark. As of May 30, NVDA’s market cap reached a staggering $992 billion, bringing it closer to the coveted trillion-dollar threshold.
Following the release of its fiscal first-quarter results on May 24, Nvidia’s stock experienced a remarkable surge of 27.5% in just two trading sessions. Over the past month, NVDA shares have risen by an impressive 38.74%.
Once Nvidia reaches the $1 trillion market cap, it will join the prestigious ranks of other major tech companies like Apple Inc. (NASDAQ: AAPL), Alphabet Inc. (NASDAQ: GOOG), Amazon.com, Inc. (NASDAQ: AMZN), and Microsoft Corporation (NASDAQ: MSFT). Apple made history in 2018 by becoming the first tech company to achieve a trillion-dollar market cap.
Nvidia’s stock would need to reach $404.86 in order to secure a market valuation of $1 trillion, as calculated by the Wall Street Journal.