The biggest beneficiary of the ongoing AI boom, Nvidia has become the first public company to pass the $5 trillion market cap milestone.
The company’s shares rose more than 5.6% on Wednesday to as much as $212.19, on the back of news on Wednesday that U.S. President Donald Trump said he expects to discuss the company’s Blackwell chips with Chinese President Xi Jinping on Thursday.
Investors are also likely stoked by Nvidia CEO Jensen Huang’s comments on Tuesday that the company expects $500 billion in AI chip sales, and that it is building seven new supercomputers for the U.S. in areas like security, energy, and science that will require thousands of Nvidia GPUs. The company on Tuesday also said it had invested $1 billion in Nokia and would use some of its products to “enable communication service providers to launch AI-native 5G-Advanced and 6G networks on NVIDIA platforms.”
