Nvidia Hits $5 Trillion Market Cap, First Public Company to Reach Milestone

As the leading beneficiary of the ongoing AI boom, Nvidia has become the first publicly-traded company to reach a market capitalization of $5 trillion.

The company's stock climbed over 5.6% on Wednesday, reaching as high as $212.19 per share. This surge followed news that former U.S. President Donald Trump indicated he would discuss Nvidia's Blackwell chips with Chinese President Xi Jinping.

Investors were also likely encouraged by CEO Jensen Huang's announcement that Nvidia projects $500 billion in AI chip sales. The company is developing seven new U.S.-based supercomputers for security, energy, and scientific research, requiring thousands of Nvidia GPUs. Additionally, Nvidia revealed a $1 billion investment in Nokia to help communication providers deploy AI-native 5G-Advanced and 6G networks on Nvidia platforms.

This $5 trillion valuation comes just three months after Nvidia first crossed the $4 trillion mark. The stock has soared more than 50% this year, driven by massive demand for its graphics processing units (GPUs) which are essential for training large language models and AI inference in data centers. Nvidia's GPUs maintain their value through scarcity and their integration into expanding data center infrastructure.

Technology stocks have generally surged this year on widespread optimism that AI will transform global industries, reminiscent of the internet's impact. Several multi-billion-dollar deals—many involving Nvidia—have accelerated data center development to support compute-intensive AI models. In September, Nvidia committed to investing up to $100 billion in OpenAI, another AI boom beneficiary, with plans to deploy 10GW of Nvidia systems to power OpenAI's operations.

With a $5 trillion market cap, Nvidia now exceeds the combined stock market value of every country except the United States, China, and Japan.

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