The Economist
Sep 7, 2026 – 10.32am
It took 30 years for Nvidia, the American company whose chips power much of the world’s artificial intelligence, to reach a valuation of $US1 trillion. Getting to $US2 trillion took only nine more months. It passed the $US5 trillion mark less than two years later. It is now the world’s most valuable company, worth about $US5.4 trillion ($7.5 trillion). Next year, its sales are expected to almost double. Some analysts predict it will generate $1 trillion in annual revenue by 2029.
It is not just chipmaking that has spurred Nvidia’s stunning growth, however. Its boss, Jensen Huang, has also resorted to financial engineering to boost demand for its wares. In mid-August, for example, Nvidia agreed to provide a backstop worth up to $US105 billion for a vast data centre in Ohio that will use lots of its chips.
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The Economist