Nvidia surpasses Intel as largest U.S. chip maker by market cap

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 SOX, +1.48%, a 17% gain in the tech-heavy Nasdaq Composite Index COMP, +1.

and Intel often jockeyed for the No. 1 position, according to Dow Jones data.

BenBajarin Apple is a US company that makes chips and has a bigger market cap than Nvidia.

Market cap is an illusion and doubly so for tech firms

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