Nvidia becomes world’s first $5 trillion company

(The Hill) -- Nvidia on Wednesday became the first company in the world to reach a $5 trillion valuation. 

The chipmaker’s stock jumped 3 percent at market open, pushing the company above the historic milestone. The company had recently been nearing the $5 trillion mark, sitting at $4.89 trillion at the close of trading Tuesday. 

Nvidia became the first $4 trillion company in early July, underscoring the firm’s meteoric rise as a key provider of the chips that are powering the artificial intelligence (AI) boom. It was followed by Microsoft in late July and Apple on Tuesday. 

The company’s growth has closely tracked the rise of AI, which exploded into public view in late 2022 with the release of OpenAI’s ChatGPT. Nvidia first crossed $1 trillion in 2023, before reaching $2 trillion and later $3 trillion in 2024. 

As countries around the world race to develop AI, Nvidia has increasingly found itself in a complicated position, seeking to sell its chips to both the U.S. and China as the superpowers each seek to dominate the technology. 

Amid this dynamic, Nvidia CEO Jensen Huang has developed a close personal relationship with President Donald Trump that was on full display Tuesday at the chipmaker’s GTC conference in Washington.  

Huang offered expansive praise for Trump and his administration in a two-hour keynote, touting their energy and manufacturing policies and borrowing the president’s catchphrase in thanking the audience for “making America great again.”