Nvidia hits new milestone as world's first 5tn company

Nvidia has hit a new milestone, becoming the first company in the world to reach a market value of $5tn (£3.8tn). The US chip-maker has rapidly climbed from a niche graphics-chip manufacturer to an AI titan, as euphoria about the potential of artificial intelligence keeps driving demand for its chips and propelling its stock to record highs. The company reached a market value of $1tn for the first time in June 2023 and hit the $4tn valuation mark just three months ago . Shares in the chip-maker rose as much as 5.6% to more than $212 on Wednesday morning, boosted by investor optimism about Nvidia's sales in China, which has been a geopolitical flashpoint. The world's most valuable company - the biggest winner in the AI spending spree - has soared past its rivals in the technology sector.