AsianFin -- Nvidia Corporation solidifies itself as the world’s most valuable listed company after U.S. President Donald Trump’s remarks raised hope that restrictions on sales of Nvidia advanced chips in China are easing.
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Nvidia shares rose as much as nearly 5.6% and closed around 3% higher to $207.04, refreshing their record for the second straight day. The outperforming rally propelled the market value topping $5 trillion. Nvidia thus became the first-ever $5 trillion company by market capitalization.
The Santa Clara, California company now is larger than the combined market values of multiple major semiconductor companies, including Advanced Micro Devices Inc. (AMD) , Broadcom Inc., Intel Corp., Lam Research Corp., Micron Technology Inc.,Qualcomm Inc., and Taiwan Semiconductor Manufacturing Co. (TSMC).
It took Nvidia just four months, or 78 trading days, to cross the market value milestone of $5 trillion after it cracked the $4 trillion mark. Shares of Nvidia, as the leading artificial intelligence (AI) chip maker, were inevitable bolstered by the AI boom. Trump’s remarks on Wednesday fueled speculation that its flaghship Blackwell chips could hit the Chinese market on the horizon, adding to the recent torrid stock gains.
Trump told a media scrum that he plans to discuss Nvidia’s Blackwell chips with China’s Xi on Thursday. “We’ll be speaking about Blackwell, it’s the super duper chip,” he said, adding the Nvidia CEO Jensen Huang recently brought a version of the AI accelerator to the Oval Office.
The Blackwell architecture represents Nvidia's latest generation of AI chips, or graphics processing units (GPUs), used to train and run large language models (LLMs). Trump touted the Blackwell processor as “super duper” that is a decade ahead of any other chip. “That’s our country. We’re about 10 years ahead of anybody else in chips — in the highly sophisticated chips. I think we may be talking about that with President Xi,” said Trump.
Trump three months ago indicated he could allow Nvidia to sell the scaled-down Blackwell,while confirming his administration greenlighted exports of certain Nvidia AI chips to China, in exchange for giving the government 15% of the revenue they get from the sales. "[Nvidia CEO] Jensen [Huang] also has the new chip, the Blackwell. A somewhat enhanced-in-a-negative-way Blackwell. In other words, take 30% to 50% off of it," said Trump. "I think he’s coming to see me again about that, but that will be an unenhanced version of the big one," he added.
Huang’s speech in Washington, D.C., on Wednesday was also deemed as a catalyst for Nvidia stock. The chief executive announced a slew of deals powering AI deployment in various sectors and disclosed upbeat sales outlook of Nvidia’s fastest chips and the next-generation Superchip Vera Rubin.
During his keynote at Nvidia’s GPU Technology Conference (GTC) AI conference, said Nvidia has shipped 6 million Blackwell GPUs in the past four quarters, highlighting the high demand, and the delivery is expected to be 20 million units. In comparison, Hopper, the previous generation GPU, only accounted for 4 million units in its whole lifetime, according to Huang.
The Blackwell chip and the newer Rubin model are juicing an unprecedented surge of sales growth through 2026, Huang said. He disclosed Nvidia expected $500 billion in combined GPU sales between the Blackwell generation and the Rubin chips, adding that the sales forecast didn’t include sales from China.
"The most important thing learned was that Blackwell and initial Rubin orders over the next five quarters amount to what seems to be over $340 billion and these don't include new orders, Rubin CPX, China and Hopper," Melius Research analyst Ben Reitzes wrote in a note to clients, though networking is included in that expectation.
If Huang's order commentary is "taken literally," it "implies meaningful upside to Street estimates for revenue since it doesn't include new orders, which seem inevitable given growth prospects in the Middle East and excitement around the Rubin products" in the second half of 2026, Reitzes added.
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