Nvidia was the first company to be worth $4 trillion when it reached the milestone three months ago, and now it is on track to be the first $5 trillion company, according to the Associated Press.
The demand for Nvidia’s chips has increased rapidly since 2023. On Wednesday, shares of the company reached $207.80 in pre-market trading. With 24.3 billion outstanding shares, the market cap is at $5.05 trillion. The company recently disclosed chip orders of $500 billion.
Nvidia has made a lot of business moves as of late. It is partnering with Uber to develop robotaxis, invested $1 billion in Nokia to work on 6G technology and is building seven AI supercomputers for the Department of Energy.
