Highlights:
- Nvidia surpasses $5 trillion in market value, overtaking Microsoft and Apple.
- CEO Jensen Huang says company has secured over $500 billion in chip orders through 2026.
- Manufacturing shifts to Arizona amid growing US-China tech tensions.
- Partnerships announced with Nokia and Oracle to expand into telecom and supercomputing.
Historic milestone for the chipmaker
Nvidia made history on Wednesday, becoming the first company in the world to reach a $5 trillion market capitalization after its shares rose more than 3% in early trading.
The milestone cements the company’s position as the world’s most valuable firm, ahead of Microsoft and Apple, each currently valued at about $4 trillion.
The surge follows CEO Jensen Huang’s remarks at the company’s GTC developer conference in Washington, D.C., where he announced Nvidia has received more than $500 billion in chip orders extending through the end of 2026.
“We are probably the first technology company in history to have visibility into half a trillion dollars [in revenue],” Huang said, referring to orders for the company’s Blackwell and upcoming Rubin chips.
China tensions and US manufacturing push
Momentum was also boosted by renewed hopes of Nvidia’s re-entry into the Chinese market. Former President Donald Trump said he would discuss the company’s Blackwell chip with Chinese President Xi Jinping during their meeting in Busan, South Korea.
Trump described the processor as “super-duper” and “probably 10 years ahead of any other chip,” signaling potential trade discussions that could benefit Nvidia, which has been locked out of China due to export restrictions.
The company’s China revenue has plunged from $15.5 billion in a prior quarter to $2.8 billion most recently, after its market share there fell from 95% to zero.
In response, Nvidia has expanded US manufacturing. Huang confirmed the company’s Blackwell GPUs are now being produced at a facility in Arizona, part of the government’s broader effort to bring semiconductor production back to American soil.
Global partnerships and growth plans
At the same conference, Huang unveiled several new partnerships, including a $1 billion investment with Nokia to develop 5G and 6G telecommunications equipment powered by Nvidia chips.
The company also announced a collaboration with Oracle to build seven supercomputers for the US Department of Energy, including one system equipped with 100,000 Blackwell chips.
Over the past four quarters, Nvidia has shipped six million Blackwell processors and expects to deliver 14 million more in the next five.
AI chip demand drives valuation surge
Nvidia’s rapid climb underscores the global demand for its graphics processing units (GPUs), which dominate the AI chip market with an estimated 90% share. Its technology underpins the large-scale data centers that power AI systems for Microsoft, Meta, Amazon, OpenAI, and other major players.
The company’s growth trajectory has been unmatched: Nvidia crossed $1 trillion in June 2023, $2 trillion in February 2024, $3 trillion in June 2024, and $4 trillion in July 2025 before hitting the $5 trillion mark this week.
Nvidia’s shares have risen more than 50% in 2025, adding over $400 billion in market capitalization in just two trading days. The stock closed above $200 per share for the first time on Tuesday, continuing its rally into Wednesday.
