Silicon Valley-based chipmaker, Nvidia, has achieved a significant milestone as its market capitalization briefly soared past $1 trillion for the first time in its history on Tuesday, driven by the company's strong performance in the AI market.

As a result of the AI boom, Nvidia's resounding success is down to its strategic positioning and capitalizing on Big Tech's insatiable hunger for artificial intelligence (AI). This, coupled with its cutting-edge graphics processing units (GPUs) has firmly established the company as a leader in the field. Its GPUs play an indispensable role in powering generative AI platforms, such as OpenAI's ChatGPT and Google's Bard, further solidifying Nvidia's influence and relevance in the burgeoning AI ecosystem.

The chipmaker has now become a formidable contender in the tech world, outpacing renowned giants such as Meta, Tesla, and Samsung, and is worth almost as much as Amazon and Alphabet, which are valued at $1.2 trillion and $1.5 trillion respectively, according to data from CompaniesMarketCap, as of May 31, 2023. In this Techloy infographic below, we feature the leading semiconductor companies, by market capitalization.

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