Nvidia market value closes in on Intel

Nvidia Corp. is close to surpassing Intel Corp. in market value for the first time after shares of the graphics chipmaker soared this year.

Nvidia has gained more than 70% in 2020 as investors bet the coronavirus pandemic has accelerated a shift to cloud-based digital services that use its technology.

The rally has added more than $100 billion in value, giving Nvidia a market capitalization of about $245 billion.

Intel has a market value of $249 billion and its shares are down roughly 2% so far this year.

The milestone would make Nvidia the third-largest chipmaker by market capitalization, after Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co.

Nvidia market value July 2020

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Nvidia market value closes in on Intel