Capobianco and his partner Michael Hixon placed just behind China in the men's 3-meter synchronized springboard.
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It's Capobianco's first Olympic medal--a dream he's had since he started diving at 11 years old.
WATCH: ABC11 talked with Capobianco's family ahead of the Summer Games
Holly Springs diver goes for gold at Summer Games in Tokyo
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The 21-year-old and his family moved from New York to Holly Springs when he was 13. Capobianco is now a student at Indiana University.
Capobianco has one more chance at earning some hardware in Tokyo. He will compete in the 3-meter individual springboard competition next week.