Nvidia's Stunning Rise: A Tech Giant's Journey to $5 Trillion

Nvidia's stock has been on a wild ride, recently hitting a market cap of $5 trillion. This is a huge deal because it makes Nvidia the most valuable company in the world. The company's success is largely due to the growing demand for AI technology. Nvidia's chips are in high demand because they are used to power AI systems like ChatGPT. But there are concerns about a possible AI bubble. Some experts worry that the high stock prices of tech companies like Nvidia could come crashing down. The Bank of England and the International Monetary Fund have both raised alarms about this possibility. Nvidia's CEO, Jensen Huang, is not worried about a bubble. He believes that AI chatbots are becoming so useful that they will be profitable. Huang is currently in South Korea for the annual Asia-Pacific Economic Cooperation summit. The summit is expected to be overshadowed by a meeting between Trump and Chinese leader Xi Jinping. Nvidia has been making some big moves lately. The company announced $500 billion in chip orders and a partnership with Uber on robotaxis. Nvidia is also teaming up with the Department of Energy to build seven new AI supercomputers. In addition, Nvidia announced a $100 billion investment in OpenAI. Nvidia's success has not been without controversy. In August, Trump announced a deal with Nvidia and AMD to lift export controls on sales of advanced chips to China. The deal was controversial because it could potentially put advanced technology in the hands of the Chinese military. Despite this, Nvidia announced last month that it is investing $5 billion in Intel.