Nvidia on Wednesday became the first company in history to reach a market value of USD 5 trillion, marking a stunning ascent fuelled by the artificial intelligence boom that has reshaped global technology and markets.

The achievement highlights Nvidia’s transformation from a niche graphics-chip designer into the backbone of the AI industry, turning CEO Jensen Huang into one of Silicon Valley’s most influential figures and placing the company at the centre of the US–China tech rivalry.

Since the launch of ChatGPT in 2022, Nvidia’s shares have surged twelvefold as the AI frenzy pushed the S&P 500 to record highs, sparking debate over whether soaring tech valuations could trigger another market bubble.

Reached just three months after the company crossed USD 4 trillion, the new valuation no

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