Nvidia Corp. surpassed Intel Corp. as the largest U.S. chip maker by market cap for the first time on Wednesday. Nvidia shares closed up 3.5% at $408.64, giving it a market cap of $251.31 billion, while Intel shares finished up 0.5% at $58.61, giving it a market cap of $248.16 billion, according to FactSet data. For the year, Nvidia shares have gained 74% while Intel shares have slipped 2%, compared with a 11% gain in the PHLX Semiconductor Index , a 17% gain in the tech-heavy Nasdaq Composite Index , and a 1.9% decline in the S&P 500 index . While it is not the first time a U.S. chip maker has surpassed Intel in market cap, it is the first time for Nvidia. Back in 1999 and 2000, Texas Instruments Inc. surpassed Intel in cap a few times, and between late 2012 and mid-2014 Qualcomm Inc. and Intel often jockeyed for the No. 1 position, according to Dow Jones data. Read More...
Nvidia Corp. surpassed Intel Corp. as the largest U.S. chip maker by market cap for the first time on Wednesday. Nvidia shares closed up 3.5% at $408.64, giving it a market cap of $251.31 billion, while Intel shares finished up 0.5% at $58.61, giving it a market cap of $248.16 billion, according to FactSet data. For the year, Nvidia shares have gained 74% while Intel shares have slipped 2%, compared with a 11% gain in the PHLX Semiconductor Index , a 17% gain in the tech-heavy Nasdaq Composite Index , and a 1.9% decline in the S&P 500 index . While it is not the first time a U.S. chip maker has surpassed Intel in market cap, it is the first time for Nvidia. Back in 1999 and 2000, Texas Instruments Inc. surpassed Intel in cap a few times, and between late 2012 and mid-2014 Qualcomm Inc. and Intel often jockeyed for the No. 1 position, according to Dow Jones data.
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