Copyright hoodline
Nvidia has shattered records by becoming the first company in the world to reach a market value of $5 trillion, riding the wave of a booming artificial intelligence industry and a robust US stock market. The Guardian reports that Nvidia's shares hit $207.86 with 24.3 billion shares outstanding, bolstered by an insatiable demand for its cutting-edge AI chips. This valuation places Nvidia's worth above the GDPs of economic giants like India, Japan, and the United Kingdom. Recent developments have only further cemented Nvidia's dominance in the sector. The tech titan has revealed a $500 billion backlog in chip orders and is partnering with Uber on robotaxis. They're also sinking $1 billion into Nokia to work on 6G technology. According to The Guardian, they are joining forces with the US Department of Energy to construct seven new AI supercomputers. Nvidia's technology is a cornerstone for OpenAI's infrastructure, which plans to scale up significantly to support the processing needs of tools like the popular AI chatbot ChatGPT. President Donald Trump notably backed Nvidia's CEO, Jensen Huang, who referred to him as an "incredible guy" during a South Korean speech. According to the Washington Post, Trump has a vested interest in the company's success, owning up to $1.3 million in Nvidia shares. During his administration, the President has floated the possibility of permitting sales of a less powerful Nvidia chip to China, which could significantly boost Nvidia's stock market performance. Furthermore, Trump has announced intentions to discuss Nvidia's semiconductor trade with Chinese President Xi Jinping.
