Tech giant Nvidia has made history, becoming the first company in the world to hit a $5 trillion market valuation on Wednesday, October 29, as investors continue to pour confidence into artificial intelligence as the next major driver of global innovation and growth.
The California-based semiconductor leader saw its shares climb 4.91% to $210.90 at the start of trading on Wall Street, propelling its market capitalization past the $5 trillion milestone.
The surge comes on the back of robust sales figures, new strategic alliances — including a recently announced partnership with Nokia in Europe — and renewed optimism about the company’s potential return to the Chinese market.
Nvidia CEO Jensen Huang is expected to participate in discussions on the sidelines of the APEC summit in South Korea, where U.S. President Donald Trump and Chinese President Xi Jinping are slated to address issues surrounding AI development and global trade.
Currently, Nvidia’s chips remain restricted from sale in China due to U.S. export controls linked to national security and ongoing trade tensions. However, the Trump administration has signaled a possible softening of export policies, despite opposition from lawmakers pushing for tighter restrictions.
In recent weeks, Nvidia has unveiled several major investment plans — including a $100 billion commitment to OpenAI, the creator of ChatGPT, over the coming years, and a $5 billion investment in Intel as part of efforts to boost U.S. semiconductor manufacturing.
Nvidia’s graphics processing units (GPUs) power the vast majority of the world’s generative AI systems, from ChatGPT to other large language models, cementing the company’s status as a cornerstone of the global AI revolution transforming technology, business, and industry.
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