This is a record: Nvidia is worth $5 trillion

Shares of the company, which has become the biggest beneficiary of the rapid growth of investment in artificial intelligence, rose 4.6% on October 29, increasing its market capitalization to $5.11 trillion.

On the same day, US President Donald Trump said he planned to discuss Nvidia's Blackwell chip with Chinese leader Xi Jinping during a bilateral meeting later this week.

This raises the possibility that Nvidia could regain access to the Chinese market for its semiconductors. Nvidia's latest generation of GPUs is currently unavailable in China due to US export controls.

Three years ago, before OpenAI launched ChatGPT, Nvidia was valued at around $400 billion. Since then, its shares have soared thanks to demand for its AI chip technology, which dominates the machine learning market and the launch of large language modelers like OpenAI.

The AI chip maker surpassed 1 trillion within months of ChatGPT's launch, reaching 2 trillion in February 2024 and 3 trillion in June last year.

Shares of other US technology groups have also risen to record highs in recent months. Apple hit a $4 trillion valuation for the first time on October 28. Microsoft hit the mark again after hitting it in July, thanks to the restructuring of OpenAI, in which it has a 27% stake.

Nvidia shares have surged more than 90 percent in the past six months alone, and the company is now worth more than the major stock indexes of Germany, France and Italy combined. Confidence in Nvidia’s ability to sustain its growth has been bolstered by a series of long-term, multibillion-dollar deals around the world this year to build a vast data center infrastructure to train and run artificial intelligence models.

Nvidia's growth has come despite tensions between Washington and Beijing this year that have restricted the company's access to China, costing the chipmaker billions of dollars in revenue. In response, Beijing has launched a campaign against Nvidia chips, seeking to distance itself from American microchip technology.