Nvidia Market Cap Nears $5 Trillion

By Douglas A. McIntyre Published Oct 29, 9:05AM EDT

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Nvidia Corp.’s (NASDAQ: NVDA) market cap is poised to hit $5 trillion after a dizzying number of new deals were announced.
CEO Jensen Huang may announce further deals on his trip to South Korea.

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Nvidia Market Cap Nears $5 Trillion — © Shutterstock / rafapress

Nvidia Corp.’s (NASDAQ: NVDA | NVDA Price Prediction) market cap was the first to cross $4 trillion. Now, it is closing in on the $5 trillion mark, as it hit $4.9 trillion yesterday. The rise had nothing to do with earnings. It had everything to do with a series of major deals, all of which the chipmaker announced within 48 hours.

The stock is already up today, so it could top the $5 trillion level.

The list of deals was dizzying.

Nvidia will build its cutting-edge Blackwell chips in Arizona. Not only will this please President Trump because it means another U.S. investment. It also means it can build more of its flagship Blackwell chips, which are in great demand. It used to be that these chips were only made in Taiwan.

Trump called Blackwell a “super duper” chip and began to open the door to possible sales as he met with China’s leader. Trump said Blackwell chips were on the table in a meeting with Chinese leader Xi Jinping. A trade dispute and China’s desire to make its own high-end chip had these chips locked out of China. Trump said. “We’ll be speaking about Blackwells.” If China’s door is open, it could mean billions of dollars in sales for Nvidia.

More Deals

Nvidia CEO Jensen Huang announced that his company would help build a supercomputer to help maintain and advance the U.S. nuclear arsenal. It will partner with Oracle and could contribute as many as 100,000 Blackwell chips. The project will include as many as seven of these supercomputers.

SK Hynix, an Nvidia supplier, said it had already sold its 2026 supply of high-end memory semiconductors. It shows demand for AI chips continues to rise.

Nvidia made a $1 billion investment in Nokia, which involves artificial intelligence projects and data center installations. It shows the extent to which Nvidia is moving into AI center infrastructure, which is outside its traditional business.

Huang is on his way to South Korea, where he may meet with President Trump and could announce deals with SK Group and Samsung.

Nvidia is renowned for its deal-making, in terms of selling its chips worldwide and making billion-dollar investments to advance AI distribution. These distributions often include the purchase of Nvidia chips, which guarantee its rapid growth. And the pace of these deals in the past two days is astonishing.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.