Nvidia stock rally pushes market cap to new high

Shares of Nvidia pushed the company’s market capitalization to a record $5.7 trillion on Thursday, as the AI chipmaker’s stock climbed more than 4% to reach an all-time high, News.Az reports, citing Yahoo Finance.

Nvidia shares advanced alongside the broader technology sector ahead of the semiconductor giant’s upcoming earnings report next week.

The rally also followed a Reuters report stating that the US Commerce Department had approved roughly 10 Chinese companies to purchase Nvidia’s H200 chip, the firm’s second-most-powerful artificial intelligence processor. According to the report, approved buyers include Alibaba, Tencent, ByteDance, and JD.com.

Reuters, citing sources familiar with the matter, reported that no chip deliveries have taken place so far, leaving uncertainty around whether major sales agreements between Nvidia and Chinese firms will ultimately proceed.

Speaking with CNBC on Thursday, US Treasury Secretary Scott Bessent said he had no new information regarding broader access for Nvidia chips in the Chinese market.

Nvidia has excluded China-related sales guidance from its recent quarterly forecasts as US export restrictions continue to limit the company’s ability to sell its most advanced AI chips to Chinese customers amid intensifying global competition in artificial intelligence.

Chief Executive Jensen Huang was also added at the last minute to a delegation of business leaders accompanying President Donald Trump to China for a summit with Chinese President Xi Jinping.

Nvidia shares have gained more than 26% since the start of the year and are up roughly 70% over the past 12 months.

News.Az 

By Nijat Babayev