Nvidia is world's first $5tn-firm: Shares surge 5%; AI deals drive record valuation

AI Summary
Nvidia Corp became the world’s first $5 trillion company as its stock surged 5.16% to $211.41 on October 29, driven by strong demand for AI chips and strategic partnerships. The company's market capitalization now exceeds the combined GDP of Japan, the UK, and India. Nvidia CEO Jensen Huang announced chip orders worth $500 billion and disclosed collaborations with Uber and Nokia to develop robotaxis and 6G technology respectively. Additionally, Nvidia is working with the US Department of Energy on AI supercomputers and has committed $100 billion to OpenAI for new data centers. However, global regulators have raised concerns about potential market overheating in the AI sector.
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