Nvidia storms past $5trn mark

The chipmaker has achieved a milestone in market capitalization as the AI rally picks up steam

American tech giant Nvidia has achieved a historic $5 trillion market capitalization. The milestone came after US President Donald Trump said he planned to discuss Nvidia’s Blackwell chips with Chinese President Xi Jinping.

The leaders of the world’s two biggest economies will aim to ease tensions in a meeting on Thursday. “I expect to be lowering that because I believe they’re going to help us with the fentanyl situation,” Trump told reporters as he headed to South Korea on Wednesday.

Nvidia shares rallied as much as 5.2% to $211.47, pushing the company over the threshold just four months after it crossed the $4 trillion mark. CEO Jensen Huang recently unveiled a series of partnerships amid surging global demand for AI technology.

“Investors have been taught to look past AI valuations, and if what everyone is betting on with AI comes to fruition, then those valuations are probably justified – though some of it may be hard to live up to,” chief investment officer at Fort Pitt Capital Group Dan Eye told Bloomberg. He pointed to growing competition from Advanced Micro Devices and Broadcom, as well as China’s push to develop its own AI chips, as potential risks.

“Nvidia currently holds more than 90% of the market share, and that’s more likely to go down than up,” Eye added.

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Earlier Tuesday, US tech giant Apple surged past $4 trillion in market value, becoming the third company to reach the milestone after Nvidia and Microsoft. The gains came on stronger-than-expected demand for its latest iPhones, with shares up about 25% over the past three months.

Apple’s rebound marks a turnaround after a rocky start to the year, weighed down by tariffs and supply-chain strains. Still, analysts remain divided on its long-term AI strategy.