Nvidia becomes the first company in the world to reach a market capitalization of $5,000 billion

In the opening trading session on the morning of April 29 (US time), the US chip company Nvidia made history by becoming the first company in the world to reach a market capitalization of 5,000 billion USD (more than 210 USD/share).

Nvidia Corporation logo. (Photo: Nvidia)

The milestone comes on the back of a spectacular stock rally that cements Nvidia's position at the center of the global artificial intelligence (AI) boom.

The achievement marks the rapid and successful transformation of the California-based company from a specialized graphics chip designer to the "backbone" of the global AI industry.

The development has turned CEO Jensen Huang into a Silicon Valley icon and made the company's cutting-edge chips a flashpoint in the tech rivalry between the U.S. and China.

Since ChatGPT debuted in 2022, Nvidia shares have surged 12-fold, pushing the S&P 500 to record highs and sparking debate about the risk of a "tech bubble."

The new milestone comes just three months after Nvidia crossed the $4 trillion mark, which now surpasses the total market value of the entire cryptocurrency market and is roughly half the size of the benchmark European stock index, the Stoxx 600.

Nvidia shares rose 3.5% after a series of recent announcements solidified the company’s lead in the AI ​​race. On October 28, CEO Jensen Huang revealed $500 billion in AI chip orders and said he plans to build seven supercomputers for the U.S. government .

Meanwhile, US President Donald Trump is expected to discuss Nvidia’s Blackwell chips with Chinese President Xi Jinping during a summit scheduled for October 30 in South Korea. The sale of these high-end chips is a sticking point between the two sides due to Washington’s export controls.

In addition to Nvidia, other major tech companies such as Apple and Microsoft have also surpassed the $4 trillion market capitalization mark in recent months. Nvidia is expected to announce its quarterly results on November 19.

VNA

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