The Strategist

Nvidia becomes US largest chipmaker by capitalization overtaking Intel

07/10/2020 - 03:59

Nvidia Corp for the first time became the largest US chip maker by market value, overtaking Intel Corp on Wednesday.

Nvidia stock quotes rose by 3.5% per day - up to $ 408.64. As a result, the company's capitalization reached $ 251.31 billion.

Intel papers rose 0.5% to $ 58.61. As a result, the market value of the chip maker rose to $ 248.16 billion, according to FactSet.

Nvidia's stock price soared 74% over the past year, while Intel's capitalization fell 2%. For comparison, the value of the Nasdaq Composite stock index for this period increased by 17%, while that of Standard & Poor's 500 - decreased by 1.9%.

This is the first time when Nvidia overtakes Intel in the race for the title of the largest American manufacturer of microprocessors. Previously, there were Texas Instruments Inc. (several times in 1999 and 2000) and Qualcomm Inc. (from the end of 2012 to the middle of 2014, both companies have repeatedly swapped places in the first or second positions), according to Dow Jones.