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Nvidia is poised to become the first company ever to reach a $5 trillion market capitalization at the open on Wednesday morning. The tech giant's stock was up around 3.5% to $208 in premarket trade just before 9 a.m. ET. If it opens at that price when trading begins, it would pass the $5 trillion mark. The historic valuation milestone is set to be reached after CEO Jensen Huang said Tuesday that the company expects $500 billion in AI chip orders over the next four years and plans to build seven AI supercomputers for the US Department of Energy. Nvidia's premarket move was also bolstered by President Donald Trump saying in a Wednesday press conference in South Korea that he could discuss Nvidia's Blackwell chips with Chinese leader Xi Jinping in a meeting Thursday. Nvidia also gained after a Tuesday announcement that it would invest $1 billion in Nokia to develop 6G technology. That news pushed the Finnish telecommunications' stock up to its highest level in almost a decade. US equities, fueled by enthusiasm for AI, hit fresh records on Monday after better-than-expected earnings results and growing optimism on US-China trade relations ahead of Trump and Xi's meeting. Nvidia's arrival at a $5 trillion valuation is set to come just a day after Apple hit a $4 trillion market capitalization, joining Microsoft and Nvidia in the exclusive club. Related stories Business Insider tells the innovative stories you want to know Business Insider tells the innovative stories you want to know Apple hit $4 trillion for the first time as the company's rally, driven by strong iPhone 17 sales, continued. "The Q3 earnings season will reach its apex this week with key reports due from Microsoft, Alphabet and Meta on Wednesday as well as Apple and Amazon on Thursday," Jim Reid, head of macro and thematic research at Deutsche Bank, wrote in a note on Monday. "The five biggest companies in the world after Nvidia now make up $15tn in total market capitalization or 25% of the S&P 500."
