Nvidia has become the first publicly-held company to reach a $5 trillion market capitalization. The company passed the $4 trillion mark just 3 ½ months ago.
Nvidia has seen its shares climb 14.5% over the past week, thanks to demand for GPUs and the possibility that the company might be allowed to sell its most advanced chip to Chinese companies. Currently, the US government blocks the company from selling its Blackwell AI chips to China, while the Chinese government restricts Chinese companies from importing some Nvidia chips because of national security concerns.
However, US President Donald Trump said recently that he would discuss Nvidia’s “super duper chip” with Chinese president Xi Jinping when they meet on October 30, indicating that the situation could change.
Nvidia hit the $5 trillion mark a day after CEO Jensen Huang told the assembled at the company’s annual AI conference in Washington, D.C. about a wave of partnerships, investments and deals with companies ranging from the 5G network supplier Nokia to the ride-sharing firm Uber.
Huang also said he expected $500 billion of AI chip orders through next year.
Nvidia’s AI chips are in great demand, as they can be used to develop and train large language AI models. If you’re keeping up with tech news these days, you likely know that nearly every major tech firm is working on an AI project. Apple is building out AI infrastructure to power its Apple Intelligence program. While the Cupertino firms is its own Apple Silicon chips, it has also invested in Nvidia server technology.
While Nvidia’s growth has outpaced Apple and other tech companies, Apple did reach a milestone of its own on Tuesday, when its valuation briefly hit $4 trillion before dipping slightly.
