🔗 Share this article The Tech Giant Hits Historic Landmark of Becoming a $5tn Corporation Nvidia now stands as the world's first $5tn company, only a quarter after this tech leader initially surpassed the $4 trillion market value mark. In comparison, Nvidia’s value exceeds the gross domestic product of Japan, India, and the UK, according to IMF data. Soon after American exchanges opened this Wednesday, Nvidia’s stock touched $207.86 with 24.3bn available shares, putting its market capitalization at $5.05 trillion. Ravenous appetite for Nvidia’s chips, regarded as the top-tier in driving AI software and tools, is the main reason that the company’s stock price has surged dramatically since early 2023. The wider US stock market has reached multiple record highs this week, buoyed up by massive funding in artificial intelligence. Major Announcements and Partnerships Earlier this week, Nvidia’s CEO, Jensen Huang, disclosed $500 billion in processor contracts. Nvidia also unveiled a partnership with Uber on autonomous taxis and a $1bn funding in the telecom firm, with the two planning to cooperate on 6G technology. In addition, Nvidia is teaming with the US Department of Energy to build multiple AI supercomputers. Recently, Nvidia stated that it will commit $100 billion in OpenAI as part of a joint effort that will add at least 10 gigawatts of Nvidia AI datacenters to ramp up the computing power for the owner of the AI assistant ChatGPT. In August, Huang mentioned Nvidia was exploring a potential new processor designed for China with the former U.S. government. Donald Trump remarked on Air Force One that he would discuss with the China's leader, Xi Jinping, about Nvidia’s technology on Thursday. AI Boom and Economic Significance Hitting the new benchmark puts more emphasis on the upheaval being unleashed by an AI frenzy that is widely viewed as the most significant change in technology since the tech pioneer Steve Jobs unveiled the original smartphone 18 years ago. Apple capitalized on the smartphone’s popularity to become the first publicly traded company to be worth $1 trillion, $2 trillion and eventually, $3tn. Risks and Warnings However, worries exist of a potential tech bubble, with UK central bank representatives earlier this month flagging the growing risk that tech stock prices driven by the AI boom could burst. The head of the IMF has raised a similar alarm.