Nvidia (NVDA) 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.
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 (UBER) to build a fleet of self-driving cars and an agreement to sell 1,000 GPUs to drugmaker Eli Lilly (LLY). Nvidia also said it is working with Nokia (NOK) to help develop next-generation 6G cellular technology.
Nvidia also announced tie-ups with Palantir (PLTR) and Oracle (ORCL), as well as partnerships on a wireless 6G buildout with telecom companies including Cisco (CSCO) and T-Mobile (TMUS). The company also highlighted how its AI tech is powering robotics initiatives from companies ranging from Amazon (AMZN) to Foxconn, Caterpillar (CAT), and Belden (BDC), among others.
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The company also announced a new open systems architecture, Nvidia NVQLink, aimed at accelerating the development of quantum supercomputers, including partners like Rigetti (RGTI) and IonQ (IONQ).
During his keynote presentation on Tuesday, Huang said the company expects to realize $500 billion in GPU sales through the end of 2026. The company’s total revenue tallied just over $100 billion in the first two quarters of this year.
Nvidia stock has gained over 50% this year and more than doubled from its lows reached in April, after Trump’s surprise “Liberation Day” tariff announcements briefly jolted markets. On Tuesday, the S&P 500 (^GSPC) reached a record high.
