Nvidia surges to $5.5 trillion as S&P 500 and Nasdaq close at record highs

Nvidia shares rose on Wednesday, pushing the chipmaker’s market value above $5.5 trillion in intraday trading and keeping it at the center of a rally that sent the S&P 500 and Nasdaq Composite to fresh closing highs. The S&P 500 ended May 13 at 7,444.25, up 0.58%, while the Nasdaq closed at 26,402.34, up 1.2%, according to market data. (usnews.com) The Dow Jones Industrial Average fell 67.36 points to 49,693.20. Reuters reported that artificial-intelligence-linked technology stocks helped investors look past hotter-than-expected inflation data. (stockanalysis.com) Nvidia closed at $225.83 on May 13, up 2.29% on the session, after trading as high as $227.84 during the day. (cnbc.com) CNBC listed the company’s market capitalization at about $5.488 trillion after the close, while separate market data showed roughly $5.47 trillion at the close after the intraday move above $5.5 trillion. The stock was indicated higher again in premarket trading on May 14. ### How high did Nvidia actually get? Nvidia reached an intraday high of $227.84 on May 13, according to market data. That move was enough to lift its valuation above $5.5 trillion during the session, a level several financial outlets said no public company had previously reached. (cnbc.com) By the 4 p.m. close, the stock had eased back to $225.83. CNBC showed Nvidia’s market cap at $5.488 trillion after the close on Wednesday. StockAnalysis listed it at $5.47 trillion at the close and $230.74 in premarket trading early on May 14, indicating investors were still bidding the shares higher into the next session. (cnbc.com) ### Which indexes set records, and by how much? The S&P 500 closed at 7,444.25 on May 13, and the Nasdaq Composite finished at 26,402.34, both records, according to CNBC and Reuters. The Dow did not join them, ending lower on the day. Reuters said chip stocks rebounded from the previous session’s decline and helped both indexes reverse earlier losses. (stockanalysis.com) FactSet data cited by CNBC showed roughly two-thirds of S&P 500 stocks fell even as the index rose. That left a narrow market led by technology and semiconductor names including Nvidia, Micron Technology and other AI-linked shares. (cnbc.com) ### Why were investors still buying tech after hot inflation data? The U.S. Labor Department’s producer price report showed prices jumped 1.4% last month, Reuters reported, the largest monthly increase in four years. Boston Fed President Susan Collins said on Wednesday that a rate hike could be possible if inflation pressures did not ease, underscoring the tension between strong equity performance and firmer inflation. (cnbc.com) Ryan Detrick, chief market strategist at Carson Group, told Reuters that “technology remains resilient” despite continued hot inflation data. (cnbc.com) Ross Mayfield, an investment strategist at Baird, told CNBC that investors viewed demand tied to artificial intelligence as structural enough that cyclical macro pressures were not changing the trade. ### What did Beijing have to do with Nvidia’s move? President Donald Trump arrived in Beijing with an entourage that included Nvidia Chief Executive Jensen Huang ahead of a two-day summit with Chinese President Xi Jinping, Reuters reported. (usnews.com) CNBC said Huang’s presence fed investor hopes that the meetings could produce progress on Nvidia’s ability to sell AI chips into China. Reuters separately reported on May 14 that the United States had cleared around 10 Chinese firms to buy Nvidia’s H200 chip, though no deliveries had yet been made. That report added another China-related data point for investors trying to assess whether export restrictions could ease or remain a constraint on Nvidia’s sales. (usnews.com) ### What comes next for investors watching Nvidia? May 20 is Nvidia’s next scheduled earnings date, according to CNBC and StockAnalysis. Investors will also be watching whether the stock can hold above Wednesday’s closing level of $225.83 and whether any concrete announcements emerge from the Trump-Xi meetings in Beijing. (usnews.com) (cnbc.com) (stockanalysis.com)