NVIDIA’s shares surged 5% on Oct. 28, 2025, nearing a historic $5 trillion market cap milestone. The AI chip giant hit a market cap of $4.894 trillion, positioning itself to be the first company to achieve this feat.

Multiple deals announced at NVIDIA’s GTC event contributed to the stock rally. Collaborations with the U.S. Department of Energy for supercomputers, Uber for self-driving cars, Eli Lilly for GPUs, and Nokia for 6G development showcase NVIDIA’s expanding partnerships.

SK Hynix’s sold-out 2026 production signals a prolonged chip “super cycle” benefiting NVIDIA. This supply chain dynamic, driven by AI data-center spending, provides NVIDIA with leverage for future earnings growth and industry dominance.

President Trump anticipates cutting fentanyl-related tariffs on China, crucial for U.S.-China trade relations. NVIDIA’s CEO emphasizes the importance of allowing U.S.-made AI chip sales in China, which could positively impact the company amidst trade tensions.

As NVIDIA approaches a $5 trillion market cap, the company must sustain revenue growth and navigate regulatory challenges. With a Zacks Rank #2, strong Growth score, and impressive financial metrics, NVIDIA remains a promising investment in the semiconductor industry’s growth.

Investors seeking exposure to NVIDIA’s growth story can consider ETFs with significant allocations to the company, such as SHOC, SMH, SMHX, SOXY, and SEMI. These ETFs offer a diversified approach to capitalize on NVIDIA’s potential market cap milestone.

Read more at Nasdaq: Should You Buy NVIDIA as It Nears $5T Market Cap? ETFs in Focus