The chip manufacturer climbed past a $211 share price, signaling its growing influence in the AI sector.
Nvidia has officially reached a groundbreaking achievement, becoming the first company to be valued at $5 trillion. On Wednesday morning, the company's share price jumped by 5%, exceeding $211, marking yet another significant achievement for Nvidia, which had surpassed the $4 trillion milestone just last July, according to Bloomberg.
Nvidia's stock surge is tied closely to its advances in artificial intelligence. Currently, Apple follows Nvidia with a market valuation of $4 trillion, and other tech giants like Microsoft, Google’s parent company Alphabet, Amazon, and Meta trail behind.
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The company reached the $5 trillion landmark following its announcement to acquire $1 billion worth of Nokia shares and a strategic partnership aimed at advancing "AI native" 5G-Advanced and 6G networks.
Additionally, Nvidia shares gained momentum after President Donald Trump indicated plans to discuss the export restrictions on Nvidia's Blackwell AI chip with Chinese President Xi Jinping, according to Bloomberg.