Nvidia became the first company to hit the $5 trillion mark in market value on Wednesday (29). The growth came after a series of announcements made by the company’s CEO, Jensen Huang, mainly focused on artificial intelligence. By Wednesday morning, Nvidia’s shares rose by 5.2% to $211.47 by 9:36 am in New York (10:36 am in Brasilia).
In July this year, Nvidia became the first company to reach the milestone of $4 trillion in market value. The chip giant continued to stride forward and fueled the expectation of reaching $5 trillion on the same day – which it did. Nvidia has already seen a 50% increase in its value just this year and shares rose over 5% on Wednesday morning after a series of announcements by Huang on Tuesday.
With this achievement, the company is the first to reach this mark. The chip giant bet heavily on artificial intelligence. Nvidia was known as a graphics chip company, but with the boom of artificial intelligence, it became an important player in the technology race. The company’s chips power the machines responsible for training and operating AI, attracting the attention of big tech companies and developers in the industry. According to Reuters, since the launch of ChatGPT in November 2022, the company’s shares have appreciated 12-fold. In July this year, Nvidia had already surpassed $4 trillion.
The company continued to invest. This week, the manufacturer announced a series of achievements related to the AI race, including $500 billion orders in chips and plans to build seven supercomputers for the United States government. The company’s name also remains in focus in meetings between the US and China. Presidents Donald Trump and Xi Jinping are expected to discuss the Blackwell chip in a meeting on Thursday (30) since the technology is crucial to power AI servers and enable advancements (even amid trade disputes between the countries).
Also, this week, Nvidia announced a new product that combines AI supercomputing with the power of quantum computing: NVQLink, an interconnection system that connects quantum processors to AI supercomputers. See the details here.
Nvidia injects $1 billion into Nokia and bets on the future of 6G networks. Uber will have 100,000 autonomous vehicles with Nvidia technology. Uber: passengers will be able to request female drivers in the app. Nvidia remains at the forefront of the AI race. Analysts consulted by Reuters highlighted the importance of Nvidia in the AI race:
Matt Britzman, senior equity analyst at Hargreaves Lansdown, which holds shares in the manufacturer, states that the $5 trillion market value number “is more than a milestone” but a “statement”; “Nvidia has gone from chip manufacturer to industry creator,” he said. He also believes that investing in the manufacturer is “one of the best ways to invest in the AI theme”; According to Bob O’Donnell of TECHnalysis Research, Nvidia managed to gain favor with the US government and enter currently relevant topics in the technology sector.
With the $5 trillion market value achievement, CEO Jensen Huang’s fortune also rises to $179.2 billion. He is the eighth richest person in the world, according to Forbes’ list.
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