Nvidia’s $5.05 trillion valuation, reached on Wednesday, may only be the beginning. President Donald Trump, a vocal supporter and shareholder, is dangling a “China card” that could send the stock even higher: allowing a less-powerful version of its Blackwell chip to be sold to China.
Trump, who called CEO Jensen Huang “incredible,” said on Air Force One that he would speak with Chinese President Xi Jinping about the chips. This move would open a massive, previously restricted market to the chip giant.
This news comes as Nvidia is already firing on all cylinders. The AI boom has created “ravenous” demand for its chips, pushing its value up by $1 trillion in just three months. Its $5 trillion valuation already surpasses the individual economies of India, Japan, and the UK.
The company’s dominance is further secured by a $500 billion order book, a $100 billion partnership with OpenAI, a robotaxi deal with Uber, and a $1 billion 6G deal with Nokia.
While this potential China deal is exciting investors, economic watchdogs are more cautious. The IMF and Bank of England have warned of an AI bubble, suggesting the industry’s growth is built on hype and “circular” investments, not sustainable revenue.
