Nvidia Corp (NASDAQ:NVDA, ETR:NVD) has become the first company in history to reach a market value above $5 trillion, extending its lead as the biggest beneficiary of the global artificial intelligence boom.
Shares of the chipmaker jumped as much as 3.4% at the market open, lifting its market capitalization past the $5 trillion mark for the first time. The stock was last up around 4% at nearly $209.
The milestone came after comments from US President Donald Trump ahead of a planned meeting with Nvidia CEO Jensen Huang boosted optimism about the company’s growth prospects in China. Trump told reporters he and Huang would be “speaking about Blackwells,” Bloomberg reported, referring to Nvidia’s next-generation AI chips. A version of those chips could potentially be approved for export to China.
The world’s most valuable company, Nvidia has seen its shares surge more than 180% so far this year as demand for its AI processors continues to outpace supply.
'Solid visibility'
Adding to the bullish sentiment, Bank of America reiterated Nvidia as its top pick and raised its price objective to $275 from $235 following what it called a “very positive” meeting with CFO Colette Kress and the investor relations team at Nvidia’s GTC trade show in Washington, DC.
The bank said the company’s order book of more than $500 billion for 2025 and 2026 underscores “solid visibility” and strong alignment across the supply chain. It also noted that any breakthrough in US-China trade relations would represent upside, as its current forecasts assume “zero China expectations.”
BofA analysts added that Nvidia is maintaining leadership over competitors in both GPU and ASIC design, and that its upcoming Rubin architecture remains on track for the second half of 2026. They said valuation remains “compelling,” trading at 32 times estimated 2026 earnings—less than one times its projected earnings growth rate.
The brokerage also highlighted Nvidia’s ability to ship more than 10 million GPUs in 2025–2026, supported by ample component supply and demand from customers advancing large-scale AI infrastructure projects.