Nvidia was set to make history on Wednesday by becoming the first company to notch $5 trillion market value, extending a powerful rally that has cemented its place at the center of the artificial intelligence boom.
Shares of the Santa Clara, California-based company jumped 3.1% in premarket trade after CEO Jensen Huang announced $500 billion in AI chip orders and plans to build seven supercomputers for the U.S. government.
The company hit a $4 trillion valuation in July, marking a pace of growth rarely seen in modern markets.
“In many ways, everything that could have gone right for the firm, has gone right over the last ... 24 hours,” said Michael Brown, senior research strategist at Pepperstone.
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