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Washington: American tech giant Nvidia became the first company with a valuation of 5 trillion dollars on Tuesday. Nvidia's stock rose nearly 5 percent on the Nasdaq to an all-time high of $201.03. Nvidia's stock price has seen a sharp rise in the last few years. This stock has given an impressive return of 84.40 percent in just six months and 44.27 percent in one year. The legendary chip maker company announced an order of 500 billion dollars for its artificial intelligence processor and a plan to build seven new supercomputers for the US Department of Energy. Since then, the shares have risen sharply.
Nvidia CEO Jensen Huang on Tuesday visited Washington D.C. He started his keynote speech at a developer conference by praising the policies of US President Donald Trump. He also informed about new products and partnerships.
Chip maker Nvidia has become the most valuable Nasdaq-listed company in history by touching a market cap of $5 trillion. After Nvidia, Microsoft is in second place with a market cap of 4 trillion dollars. On Tuesday, Microsoft's stock price rose 4 percent to a high of $553.72 on Wall Street.
Apple briefly crossed the $4 trillion market cap mark for the first time on Tuesday, becoming the third major tech company to achieve this milestone.
This surge came on account of strong demand for its new iPhone models, which eased concerns about its slow progress in the AI field. The stock touched an all-time high of $269.89, taking the company's value to $4.005 trillion.
As a key player in the worldwide adoption of Artificial Intelligence, Nvidia continues to make new deals amidst the US-China trade conflict. It is a rivalry that can determine which country's technology will dominate the global markets.
According to the Reuters report, Nvidia is developing supercomputers for the US Department of Energy. Some of them will be used for the maintenance and development of the country's nuclear weapons program. Developed in collaboration with Oracle, these most powerful systems will have 100,000 top-level Blackwell AI chips from Nvidia.
Nvidia also announced plans to invest $1 billion in Nokia and said that part of this amount will be used to support its AI initiatives. According to a report by ANewz, the two companies have entered into a strategic partnership to co-develop next-generation 6G technology. Their collaboration will focus on AI-driven networking solutions and explore ways to incorporate Nokia's data center switching and optical technologies into Nvidia's forthcoming AI infrastructure.
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