[ad_1]
Nvidia Corp. worth more than $ 300 billion for the first time as 2020 continues to be a pivotal year in the semiconductor industry for companies not named Intel Corp.
Nvidia NVDA,
Shares closed 6.7% higher at $ 493.48, giving the Santa Clara, Calif.-Based chipmaker a market cap of $ 303.49 billion to place it firmly as the largest maker. of American chips. The milestone comes just before Nvidia releases its second quarter results on Wednesday.
Nvidia’s stock has been on fire all year, soaring 110% and pushing its market cap past Intel’s INTC,
for the first time in July. After shoving positions for several sessions, Nvidia left Intel in the dust after Intel said its next generation of 7-nanometer chips would be delayed at least until the end of 2022 due to manufacturing issues.
The $ 300 billion level is difficult even for Intel, which last saw a market cap of $ 300 billion in November 2000, as the dot.com bubble burst in full swing. On Monday, Intel’s cap stood at $ 208.10 billion.
Intel’s pain in 2020 also translated into AMD from Advanced Micro Devices Inc.,
Gain. AMD sold several versions of 7nm chips throughout the year, and just released strong earnings and indications that the company’s market share gain from Intel was accelerating.
For its part, AMD recently recorded its own market capitalization milestone, closing above a valuation of $ 100 billion for the first time earlier this month.
While Intel shares are down 18% for the year, AMD shares are up 80%. In comparison, the PHLX Semiconductor Index SOX,
is up 20%, the S&P 500 SPX index,
is up nearly 5%, and the Nasdaq Composite Index COMP,
is up 24%.
[ad_2]
Source link