Nvidia on Wednesday became the first company in history to top a $5 trillion market valuation at the start of the trading day and hold on to it through the close.
The company reached the milestone after comments from President Trump on Wednesday, ahead of a planned meeting with CEO Jensen Huang added to optimism around prospects for Nvidia’s sales in China.
Trump told reporters Wednesday that he and Huang would be “speaking about Blackwells,” Bloomberg reported, referring to the company’s AI chips, a version of which could win approval for export to China.
In its most recent quarterly report on Aug. 27, Nvidia said it realized no sales of its earlier-generation H20 chips into China. In July, the White House said it had struck a deal with Nvidia to allow H20 chip exports to China in exchange for a 15% cut of revenue. Nvidia said the arrangement had not yet been formalized.
A slew of announcements by Nvidia
Nvidia’s rise on Wednesday also comes after a 5% jump in the stock on Tuesday, which was catalyzed by a slew of announcements from the company at its GTC event in Washington, D.C.
Among other announcements, Nvidia revealed Tuesday it is working with the US Department of Energy to build seven new supercomputers, including one that will use 10,000 Blackwell GPUs.
Other announcements include a deal to work with Uber to build a fleet of self-driving cars and an agreement to sell 1,000 GPUs to drugmaker Eli Lilly. Nvidia also said it is working with Nokia (NOK) to help develop next-generation 6G cellular technology.
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