Overview

• Nvidia became the first company to exceed $4 trillion in market capitalization after its share price rose above $164 on July 9.
• Its stock has gained over 20% year to date, outpacing the Nasdaq’s 6% advance.
• Nvidia’s GPUs are the backbone for training leading generative AI models, including OpenAI’s ChatGPT and Google’s Gemini.
• Partnerships with Meta, Microsoft and Alphabet have driven massive orders even as Nvidia keeps its full client roster private.
• U.S. export restrictions led to a $4.5 billion exceptional charge this quarter, and Chinese rival DeepSeek’s launch briefly knocked $600 billion off its market value.