The first four trillion
NVIDIA's market value passed four trillion dollars during trading for the first time, making it the first company to reach that threshold. The share closed the day at 162.88 dollars, a value of 3.97 trillion by CNBC's count.
Why it matters
The doubt that cost the company 17 per cent in a day in January was dismissed by the market within six months.
Less than six months separate the two dates. January's argument was that cheaper training would reduce demand for chips. NVIDIA itself argued the opposite: in May Jensen Huang said inference token generation had risen tenfold in a year, and reasoning spends compute on every answer rather than once during training. During trading on 9 July the share reached 164.42 dollars and it closed at 162.88, 1.8 per cent up on the day before. The market values are CNBC's; the share count is in SEC filings not read here. This is the second time in a year that a company's valuation measured not the company but what the industry believes about the nature of the technology.