NVIDIA’s stock saw a record rise during trading on Wednesday, making the American chipmaker the first company to surpass a market value of $5 trillion.
The stock increased by 4.75% to reach $210.59 at 4:43 PM Mecca time, after hitting a record high of $211.63, raising the company’s market capitalization to $5.131 trillion.
This increase follows CEO Jensen Huang’s announcement that NVIDIA has $500 billion in advance orders for the “Blackwell” and “Hopper” chips over the next five quarters, along with a plan to develop seven supercomputers for the U.S. government.
Additionally, NVIDIA announced a series of deals on Tuesday, including the purchase of a stake in Nokia for $1 billion, and signed agreements with Stellantis, Uber, and Foxconn to launch a fleet of self-driving taxis by 2028.
NVIDIA also launched the first AI-enhanced Radio Access Network (AI-RAN) in collaboration with companies like Cisco Systems, Booz Allen, MITRE, ODC, and T-Mobile.
