NEW YORK, Oct 29 (Bernama-dpa) — United States (US) chipmaker Nvidia on Wednesday became the first company worth US$5 trillion in market capitalisation, German Press Agency (dpa) reported.
The company’s shares rose by 4.5 per cent in early trading to reach US$210, riding a wave of confidence in artificial intelligence (AI).
Nvidia’s chip systems are used worldwide in training AI. Tech giants such as Meta and Google, but also newer start-ups such as OpenAI, are clients of Nvidia.
Investors are betting that the company will be able to defend its dominant position against competitors.
— BERNAMA-dpa