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Nvidia reaches record $5.65 trillion market capitalization
Nvidia reached a record market capitalization of $5.65 trillion, according to CTech. The milestone surpassed the company's previous high set in May. The report links investor enthusiasm to spending on AI infrastructure as companies compete to secure computing capacity.
Key points
- Nvidia reached a record $5.65 trillion market capitalization, surpassing its May high, CTech reported.
- SpaceX reportedly seeks $40 billion in financing, largely to purchase Nvidia AI chips.
- Apollo is expected to lead the financing, with closing anticipated in 2027.
- Nvidia joined financing platforms intended to mobilize more than $500 billion for AI infrastructure.
What happened: Nvidia reached a record market capitalization of $5.65 trillion, surpassing its previous high set in May, CTech reported. The milestone reflects investor expectations for continued spending on artificial intelligence infrastructure as companies compete to secure computing capacity. Nvidia is the dominant supplier of AI processors, according to CTech, and its chips are a critical component of the data centers being built to support the industry’s expansion.
The details: A reported SpaceX financing plan illustrates the scale of demand behind that enthusiasm. The company is seeking to raise $40 billion, largely to purchase Nvidia AI chips, CTech reported, citing Financial Times reporting based on people familiar with the matter. The proposed financing includes about $10 billion in bank loans and $30 billion in investment-grade debt. Apollo Global Management is expected to lead the transaction and help place the debt with investors. The transaction is expected to close in 2027, rather than representing completed financing today.
Background: Bond fund Pimco is among a small group of lenders reportedly discussing participation. SpaceX, Apollo and Nvidia did not immediately respond to Reuters requests for comment, while Pimco declined to comment. The financing effort follows SpaceX’s $86 billion initial public offering in June, according to CTech. SpaceX has also said it plans to use Nvidia hardware exclusively for its data centers. Separately, Elon Musk said last month that xAI’s Colossus 2 data center could more than double its Nvidia chip count by December.
Who it affects: The spending extends beyond chip purchases into the financing needed to build AI infrastructure. CTech cited Morgan Stanley’s estimate that the sector will require $1.5 trillion in external financing by 2028, even as lenders and investors become more cautious. Nvidia is also participating in that financing ecosystem. In August, it partnered with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR on financing platforms intended to mobilize more than $500 billion in third-party capital for AI infrastructure.
What to watch: For business teams buying AI computing capacity, the valuation is a signal of investor expectations, not a substitute for procurement evidence. Availability, pricing and performance on the intended workload remain the relevant purchasing considerations. The reported SpaceX transaction is still prospective, and the companies’ responses leave its details unconfirmed. Whether that financing closes and whether the planned chip expansion proceeds will be more concrete developments to track than Nvidia’s market value alone.
Our take
The valuation highlights investor expectations for sustained AI infrastructure demand. Teams buying compute should still base procurement decisions on availability, pricing and workload performance rather than market sentiment.