Nvidia Set To Be First $5 Trillion Company As AI Bets Boom

Nvidia is once again making headlines on Wall Street, as the chipmaker edges closer to a historic $5 trillion market valuation.

Shares of the California-based tech giant climbed 3 per cent in premarket trading on Wednesday after CEO Jensen Huang announced $500 billion worth of artificial intelligence (AI) chip bookings and plans to construct seven supercomputers for the United States government, reported Reuters.

In the previous session on Tuesday, Nvidia came tantalisingly close to becoming the world’s first company valued at $5 trillion, ending the day with a market capitalisation of $4.89 trillion after briefly touching $4.94 trillion. Its stock surged nearly 5 per cent, adding a staggering $230 billion to its market value in a single session.