Nvidia is now a $1 trillion company thanks to the AI boom

Illustration by Alex Castro / The Verge

Nvidia has just become a $1 trillion company, with its rising valuation fueled by tech companies big and small racing to add generative artificial intelligence tools to their products. AI tools made up the vast bulk of recent Google I/O and Microsoft Build presentations, and Nvidia’s chips make it a key supplier for companies trying to build something with AI.

The last quarterly earnings report from Nvidia noted over $2 billion in profit in three months. This latest push comes after Nvidia’s business boomed early in the pandemic during a GPU shortage while they were in demand for PC gaming and cryptocurrency mining before those markets fell back throughout 2022.

Last fall, CEO Jensen Huang said it had built too many gaming GPUs and was...

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