The Santa Clara chipmaker is now worth more than the stock markets of Netherlands, Spain, UAE, Italy and Poland combined, making it increasingly influential. With a 50% gain in 2025 alone, Nvidia now accounts for 9% of the S&P 500, raising questions about market concentration and valuation sustainability.

Both companies were back at it on Tuesday, announcing deals that once again added billions in value to public companies.

At the current price, Nvidia has a market cap of $4.9 trillion, making it the highest valued stock in the world. To reach $10 trillion, it would have to increase 104%, a little more than double its current value. Can it get there by 2030?

What's good for a new-school company can also be good for an old-school one. The big picture: Nvidia passed $5 trillion in value Wednesday, while Caterpillar's stock soared. The burgeoning AI economy is fueling insatiable demand for the modern form of picks and shovels — the types of AI chips that Nvidia designs — and for the actual picks and shovels needed to build that new capacity.

Nvidia said it plans to take a $1 billion stake in Nokia, sending shares of the Finnish tech company soaring Tuesday. Nvidia shares also climbed.

Shares of Nvidia (NASDAQ: NVDA) charged sharply higher Wednesday, climbing as much as 5.6%. As of 11:41 a.m. ET, the stock was still up 3.9%.

Despite a wave of key S&P 500 earnings and a Fed rate cut on deck this week, Nvidia is once again drawing the biggest headlines and driving the biggest market swings. The chip giant made a series of announcements Tuesday including: A $1 billion investment in Nokia, the legacy telecom company

Trump will meet Nvidia CEO Jensen Huang on Wednesday after praising the company's U.S. chip production efforts in Tokyo.

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