Nvidia commits $1 billion to acquire a 2.9% stake in Nokia, aiming to build AI-networking infrastructure and signal next-gen connectivity strategy.

Nvidia has been on a spending spree in recent weeks. The company in September pledged to invest $5 billion in beleaguered chip maker Intel. The investment pairs the world’s most valuable company, which has been a darling of the AI boom, with a chip maker that has almost completely fallen out of the AI conversation.

B EFORE CO-FOUNDING Nvidia, the pioneer of artificial-intelligence (AI) chips, Jensen Huang was a busboy at Denny’s, a restaurant chain. He playfully reminded people of this on

The chipmaker on Wednesday became the first publicly listed company to top $5 trillion in market value, boosted by demand for its AI chips.

Nvidia Corp. Chief Executive Officer Jensen Huang announced a flurry of new partnerships and dismissed concerns about an AI bubble, saying the company’s latest chips are on track to generate half a trillion dollars in revenue.

The Wall Street milestone underscores the company's swift transformation from a niche graphics-chip designer into the backbone of the global AI industry.

Nvidia became the first company to surpass $5 trillion in market value after a fresh rally driven by AI-chip demand.

Nvidia Corp. has gradually become one of the most important players in the venture capital world, without being a VC firm.

The $5 trillion valuation surpasses the total cryptocurrency market value and equals roughly half the size of the pan European Stoxx 600 equities index, Reuters notes. At current prices, Huang’s stake in Nvidia would be worth about $179.2 billion, making him the world’s eighth-richest person.

Nvidia is working with several communications companies, including Booz Allen, Cisco, MITRE, ODC and T-Mobile to create what they're calling America's first AI-native wireless stack for 6G, integrating advanced AI across hardware, software and architecture to prepare future networks for the growth of AI traffic.