Technology giant Nvidia became the first company in history with a market capitalization of more than $5 trillion during extended trading in New York, MarketWatch writes . The chipmaker's stock rose 3.2% on the premarket on October 29. Since the beginning of the year, their value has increased by almost 50%.
In order to reach the $5 trillion mark at the opening of the trading session, the company's quotes need to grow by 2.4%, Bloomberg calculated.
Nvidia's new milestone comes less than four months after hitting $4 trillion, helped by a stock rally after CEO Jensen Huang said Nvidia expects $500 billion in orders for AI chips and plans to build seven new supercomputers for the U.S. government. In addition, the company announced on Tuesday that it had acquired a $1 billion stake in Nokia and formed a strategic partnership with the networking equipment maker to develop sixth-generation (6G) mobile communications technology. And U.S. President Donald Trump made it clear Wednesday morning that he is ready to discuss the possibility of supplying Nvidia's most powerful chip for artificial intelligence in his upcoming talks with Chinese President Xi Jinping.
This article was AI-translated and verified by a human editor
