Nvidia becomes world’s first $5 trillion company: Shares surge 5% on chip demand; AI partnerships drive record valuation

Nvidia Corp has become the world’s first $5 trillion company, marking another milestone in the artificial intelligence (AI) revolution reshaping global markets. The Silicon Valley chipmaker crossed the landmark just three months after breaching the $4 trillion mark, as its stock soared on the back of surging demand for AI chips and new strategic tie-ups, according to an AP report.

Nvidia shares jumped 5.16% to $211.41 in early US trading on October 29 (9:36 am GMT-4), extending their blistering rally that has made the company the biggest beneficiary of the AI boom. The stock has risen sharply since early 2023, fuelled by a global rush for AI computing power.