Nvidia set a new milestone by becoming the first company ever to reach a $5 trillion market capitalization, a leap tied to its GTC conference in Washington, DC. CEO Jensen Huang revealed that the company has booked about $500 billion in AI chip orders and outlined plans to deploy seven new supercomputers for U.S. government use. The announcement comes just three months after Nvidia first crossed the $4 trillion line, catapulting the chipmaker ahead of major tech groups in valuation while fueling debate about an AI investment bubble.
Huang told Bloomberg at the event that the current AI surge isn’t a bubble, arguing that users are paying for a growing array of AI services. The stock moved higher on the day, with Nvidia shares gaining roughly 4.6% as the news spread across markets.
Company executives project shipping 20 million units of the latest Blackwell and Rubin chips, a stark contrast to the 4 million units of the Hopper generation sold over its entire lifetime. The $500 billion order figure covers demand through 2026 and excludes potential sales to China, Huang noted.
Analysts warned that the rapid run-up in AI-related investments could outpace actual returns. Matthew Tuttle, CEO of Tuttle Capital Management, told Reuters that AI’s expansion relies on a few large players financing capacity, and the moment investors demand cash flow rather than capacity announcements, the momentum could stall.
Despite the caution, Nvidia’s performance underscores a broader shift toward AI infrastructure in both the public and private sectors, with government and corporate buyers driving demand for GPU accelerators and related technologies. The surge highlights the challenge for markets to translate AI hype into tangible economic value while valuations remain a topic of debate.
