Nvidia becomes world’s first USD5trn company

NEW YORK: AI chip juggernaut Nvidia became the world’s first USD5 trillion company on Wednesday, as investors remain confident that artificial intelligence will deliver a new wave of innovation and growth.

The California-based tech giant saw its share price rise by 4.91 percent to USD210.90 at the open of trading on Wall Street, pushing Nvidia’s market capitalization past the never-before-seen threshold.

By way of comparison, the level was greater than the GDP of France or Germany or higher than that of Tesla, Meta (Facebook), and Netflix combined.

Microsoft and Apple, the two other largest global market capitalizations, only just exceed USD4 trillion in valuation each.