Nvidia nears $5 trillion: a tech empire built on chips and strategic alliances

From OpenAI to Stellantis, passing through Nokia and Revolut: the company led by Jensen Huang is weaving a global network of investments and partnerships that make it omnipresent in every AI-related project. And now it’s aiming for a historic milestone on the stock market.

Nvidia is on the verge of rewriting Wall Street history. If the 3% pre-market rise holds after the opening bell, the chipmaker will become the first company to break through the $5 trillion market capitalization barrier — a value five times greater than the combined worth of all the companies listed on the Milan Stock Exchange. It’s the result of a meteoric rise: up 50% since the start of the year and a fivefold increase in just two years, fueled by global enthusiasm for artificial intelligence.

The California-based company, led by the charismatic Jensen Huang, has become the cornerstone of AI: its semiconductors are the beating heart of generative models and the infrastructures powering this technological revolution. But Nvidia isn’t just selling chips. Step by step, it’s building a vast and intricate network of holdings and partnerships that make it both a central player — and often a gatekeeper — in nearly every development across the industry.

In recent months, the group has rolled out an unprecedented investment strategy: $100 billion into OpenAI, the parent company of ChatGPT, along with stakes in Nokia, Revolut, Mistral, Elon Musk’s xAI, Intel, and CoreWeave. On the industrial side, Nvidia has forged strategic collaborations with giants like Stellantis and Uber to develop fleets of self-driving robotaxis — another leap forward in the integration of AI and mobility.

This technological giant, through its investments and alliances, is expanding its reach across everything connected to artificial intelligence. However, uncertainties remain. Many of the deals signed require partner companies to purchase Nvidia chips in return — creating a circular mechanism that ensures future revenue but also ties the company’s fortunes to the financial health of its partners.

For now, though, the market is applauding. As long as AI remains the driving force of global innovation, Nvidia will stay at the center of the game — the technological and financial heart of the world’s artificial intelligence ecosystem.