Nvidia Hits $5 Trillion Market Cap-CEO Jensen Huang Becomes World's Eighth-richest Person

Benzinga

Nvidia became the first company to hit a $5 trillion market cap, highlighting its dominance in the global AI industry. CEO Jensen Huang announced $500 billion in AI chip orders and plans to build seven U.S. supercomputers. Shares rose 3% to $207.04 ahead of its November 19th earnings report.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02NVIDIA became the first company to reach a $5 trillion market capitalization on Wednesday,

00:07driven by investor enthusiasm for artificial intelligence that according to Reuters.

00:11Milestone underscores NVIDIA's transformation from a graphics chip designer

00:14into the global AI industry's foundation.

00:17CEO Jensen Huang said the company has $500 billion in AI chip orders

00:21and will build seven supercomputers for the U.S. government.

00:24Huang's stake is now worth about $179 billion,

00:27making him the world's eighth richest person.

00:30Analysts said the record reflects confidence in ongoing AI investment,

00:33though sub-ward valuations could be overheating.

00:35Shares closing up 3% at $207.04.

00:39Video will report quarterly earnings on November 19th.

00:42For all things money, visit Benzinga.com.

00:44We're going to have a look at the correlation around these seekinghh.

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