Nvidia Joins Trillion-Dollar Club: AI Surpasses Ukraine, Bitcoin, Inflation As Most-Searched Term On Google

Author: Piero Cingari | May 30, 2023 09:35am

Nvidia Corp. (NASDAQ:NVDA) became the fifth U.S. company Tuesday to currently have an over $1 trillion market capitalization.

The semiconductor giant officially joins the trillion-dollar club, which includes Apple, Inc. (NASDAQ:AAPL) with $2.7 trillion; Microsoft Corp. (NASDAQ:MSFT) with $2.5 trillion; Alphabet, Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) with $1.6 trillion; and Amazon Inc. (NASDAQ:AMZN) with $1.2 trillion.

The milestone comes after a 35% rally over the last two weeks on the back of a massive boom in artificial intelligence (AI).

Nvidia Hits $1 Trillion

Other AI-Related Stocks Spike

Nvidia shares are up 170% year to date, but it is not the only AI-related company seeing a surge at this time. Other firms' share prices have risen in sympathy since the chipmaker revealed its astounding first-quarter earnings last week:

Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are up 30% over the last week.
Broadcom Inc. (NASDAQ:AVGO), up 27%
Taiwan Semiconductor Manufacturing Company (NYSE:TSM), up 20.5%
Micron Technology, Inc. (NASDAQ:MU), up 14%.

Nvidia's Q1 Earnings Fuel Broad-Based, AI-Driven Rally

AI has become as the hottest investing theme in 2023, leaving big trends such as Bitcoin (CRYPTO: BTC), Ukraine, inflation and electric cars in its wake, according to key data from Google Trends.

Searches for "artificial intelligence" have soared in recent months, surpassing all other topics in an extraordinary surge of interest, signaling a tectonic shift in the financial environment that coincides with the thriving performance of AI-related stocks.

The chart below displays Google searches worldwide for artificial intelligence (blue line), Ukraine (red line), Bitcoin (yellow line), electric vehicles (green line), and inflation (purple line) during the last year.