"Nvidia made history on Wednesday as the first company to reach $5 trillion in market value, powered by a stunning rally and global artificial intelligence boom. The milestone underscores the company's swift transformation from a niche graphics-chip designer into the backbone of the global AI industry, turning CEO Jensen Huang into a Silicon Valley icon and making its advanced chips a flashpoint in the tech rivalry between the U.S. and China."
""In the long run, we expect tech titans to strive to find second sources or in-house solutions to diversify away from Nvidia in AI, but these efforts will, at best, only chip away at, but not supplant, Nvidia's AI dominance," said Brian Colello, senior equity analyst at Morningstar. Shares of the Santa Clara, California-based company rose 4.6 per cent after a string of recent announcements solidified its dominance in the AI race."
"LISTEN | Ready to burst?: Huang unveiled $500 billion in AI chip orders on Tuesday and said he plans to build seven supercomputers for the U.S. government. Meanwhile, U.S. President Donald Trump is expected to discuss Nvidia's Blackwell chip with Chinese President Xi Jinping on Thursday. Sales of the high-end chip have been a key sticking point between the two sides in trade talks due to Washington's export controls."
Nvidia's market value hit $5 trillion after a rapid share rally driven by explosive demand for AI chips since the launch of ChatGPT in 2022. The company evolved from a niche graphics-chip designer into a core provider for global AI infrastructure, elevating CEO Jensen Huang's profile and creating geopolitical tensions over advanced-chip exports. Shares have climbed roughly twelvefold, contributing to S&P 500 highs and raising concerns about lofty tech valuations. Major customers and governments are placing large orders while competitors and tech titans explore second sources or in-house alternatives that are unlikely to fully displace Nvidia's lead.
Read at www.cbc.ca
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