(News Bulletin 247) – The graphics processor specialist gained nearly 5% on Tuesday and gained 3.6% this Wednesday after Jensen Huang indicated during a conference that his company had garnered $500 billion in orders for Rubin and Blackwell architectures. Comments from Donald Trump also fueled optimism about possible sales to China.

Nvidia continues to defy gravity on the stock market. The graphics processor (GPU) specialist has seen its price soar since the end of 2022 thanks to the rise of artificial intelligence (AI) and demand for its chips, which have become essential to provide the computing power necessary for the development of large AI language models (LLM).

Its market capitalization crossed the 1,000 billion dollar milestone in June 2023 then that of 2,000 billion in March 2024. The 3,000 billion was reached three months later and Nvidia then became the first company to be worth more than 4,000 billion dollars on the stock market on July 9.

Like the Swede Armand Duplantis – who broke the pole vault world record 14 times – Nvidia has reached a new bar. On Tuesday, shares of the company founded and led by Jensen Huang gained 4.98% on Wall Street, closing with a market capitalization of $4.894 billion, after reaching a high of $4.94 trillion, according to Reuters.

The 5,000 billion dollars were then crossed this Wednesday. At the opening, the stock gained 3.6% and the market capitalization reached $5.068 billion, according to companiesmarket.com. This represents 158% of French GDP.

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Lots of new products and partnerships

Several elements electrified Nvidia’s price on Tuesday. On the occasion of its GTC global conference dedicated to artificial intelligence, the group unveiled a host of new products.

“Jensen (Huang, Editor’s note) announced a series of new products, including an updated version of the Blackwell (chip architecture), an updated quantum computing platform, updates to its computing platform, robotics, and more, as Nvidia seeks to deliver more advanced capabilities for the AI ​​revolution,” summarizes Dan Ives of Wedbush.

Jensen Huang notably presented NVQlink, a platform intended to merge quantum and classical computing into a single architecture. Nvidia also announced a multitude of partnerships, taking a 2.9% stake in Finnish telecom equipment manufacturer Nokia (which took more than 20% on the Helsinki Stock Exchange). The company has also formed a partnership with Uber Technologies (as well as with manufacturers Stellantis, Lucid and Mercedes-Benz) to develop a fleet of autonomous vehicles from 2027 which should reach 100,000 units.

Above all, Jensen Huang once again sent a strong signal about the demand for the company’s products. The executive said around $500 billion in orders related to next-generation Blackwell and Rubin GPU architectures would be executed in the next five quarters. Rubin chips should also enter production in 2026.

Dan Ives notes that this figure represents more than five times the value generated by the old generation of GPUs (Hopper) over its entire life cycle.

“Despite increasing competition from other chipmakers such as AMD and Qualcomm, Nvidia chips remain the new oil or gold of this technology ecosystem, because there is only one chip in the world capable of powering this AI revolution… and that is Nvidia,” enthuses the analyst.

Hopes around China

Beyond Jensen Huang’s announcements, another person catapulted the title: Donald Trump. The American president spoke to journalists on Tuesday evening to discuss his upcoming meeting with Chinese President Xi Jinping, in order to resolve trade disputes between Beijing and Washington.

Donald Trump said he would discuss Nvidia’s “super-duper” (“super extra”) Blackwell chip with his Chinese counterpart, adding that Jensen Huang recently brought a version of this AI accelerator to the Oval Office, reports Bloomberg.

The statement fueled hopes that Nvidia could export its Blackwell chips to China. Bloomberg recalls that Donald Trump had previously indicated that he was considering authorizing the group to sell a lighter version (in terms of power) of these GPUs to China.

For several years, Nvidia has faced a set of strong constraints when selling its products to China. Last April the Trump administration introduced restrictions on the group’s exports of H2O chips, which amounted to a de facto ban on them. The company had estimated the shortfall at $8 billion in the quarter from May to the end of July.

In August, Nvidia and its rival AMD then announced that US authorities would allow them to resume chip exports to China, in exchange for which the two companies would return 15% of revenues from these exports to the US administration.

But, according to Jensen Huang, China has put pressure on Chinese companies to avoid using Nvidia’s accelerators.

“The president allowed us to ship our products to China, but China is stopping us from doing so,” Jensen Huang told reporters, as quoted by Bloomberg.

China is now a major market for AI, rivaling the United States. “The question is not whether China will have AI. It already does. The question is whether one of the largest AI markets in the world will run on an American platform,” Jensen Huang said in the spring. “Half of AI researchers are based there (…) China is a springboard for global success. Today, however, the $50 billion Chinese market is, in effect, closed to American industry,” he assured.

“The United States has based its policy on the assumption that China cannot make AI chips. This assumption has always been questionable and now it is clearly wrong, China has enormous manufacturing capabilities,” said Jensen Huang, adding that the “global leadership of the United States in AI infrastructure is at stake.”