Nvidia Becomes First Company to Close Above $5 Trillion as Kyber Delay Rumors Are Dismissed

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Nvidia closed above a $5 trillion market cap (~$5.11T) — the first company ever to do so on a closing basis — with reporting on July 13 noting the rally held as speculation about a delay to its next-gen 'Kyber' rack-scale systems was dismissed. The milestone caps a run in which Nvidia briefly touched $5.5T intraday in May, and reflects chipmakers outperforming software names as model price wars compress inference margins upstream. It's a barometer of how concentrated AI-infrastructure value has become in a single supplier.