Nvidia rises as GTC announcements push market cap toward $5T

Nvidia’s shares jumped again after the company’s annual GTC conference in Washington, pushing its market value toward a record $5 trillion as CEO Jensen Huang unveiled a slate of partnerships and product announcements on Tuesday. The rally followed a keynote in which Huang outlined deals across computing, telecommunications, robotics, vehicles and medicine and described expanded work with U.S. government agencies.

Nvidia’s stock rose roughly 5 percent during trading after the conference, closing near $201 and bringing the company’s market value to about $4.89 trillion at the end of Tuesday’s session. Company officials and executives said the announcements, combined with continued investor appetite for artificial intelligence technology, drove the gains. Some market reports later recorded valuations at the $5 trillion level.

In his keynote, Huang announced multiple collaborations, including arrangements with Oracle, Nokia, Palantir and Uber, and described new product lines and platforms for telecom and autonomous vehicles. He said Nvidia will build seven new supercomputers for the U.S. Department of Energy to support work ranging from maintaining certain defense-related computing...