Trump Bump? Nvidia Becomes World’s First $5T Company Hours After CEO Met Prez
Nvidia became the world’s first $5 trillion company on Wednesday, surging on a wave of AI-driven demand and renewed optimism over access to China — just hours after CEO Jensen Huang met with President Donald Trump, who vowed to push the chips in an upcoming meeting with Chinese President Xi Jinping.
The Silicon Valley chipmaker’s shares jumped another 5 percent in early trading Wednesday, lifting its market capitalization to $5.13 trillion, more than the combined main stock indices of Germany, France and Italy. It’s the latest milestone in a dizzying ascent that has made Nvidia the undisputed face of the global AI boom.
Trump met with Huang early Wednesday local time in South Korea (13 hours ahead of ET) and told CBS News White House reporter Jennifer Jacobs that the CEO had urged him to raise sales of the company’s Blackwell technology in China with Xi.
“Jensen presented me with the first Blackwell chip three days ago in the Oval Office,” the president said aboard Air Force One, calling it their “super duper chip.”
“We’re about 10 years ahead of anybody else in chips — in the highly sophisticated chips,” Trump added. “I think we may be talking about that with President Xi.”
Trump is set to meet Xi in South Korea later on Wednesday.
The timing of the stock jump and the Trump meeting also come a day after Nvidia’s annual AI conference, held Tuesday in Washington D.C. During his address Huang heaped praise on the president, saying Trump “deserves enormous credit” for reigniting America’s tech sector and pushing production back onshore.
“If this didn’t happen, we could have been in a bad situation, and I want to thank President Trump,” he said.
The company announced a partnership with the Energy Department to build seven new AI supercomputers, including one at Argonne National Laboratory running 100,000 of Nvidia’s flagship Blackwell chips. Huang credited the deal to the president’s “AI and energy agenda.”
Huang also confirmed this week that he had contributed to the president’s $300 million White House ballroom project.
