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Nvidia’s CEO and co-founder, Jensen Huang, had a remarkable week as the chip giant’s shares experienced a solid 2.6% increase, reaching $141.54 on Friday. The company’s stock has surged by 16.6% in October alone and an impressive 186% since the beginning of the year, making it a great time for Huang. Furthermore, Nvidia’s market capitalization stood at $3.47 trillion, placing it just behind Apple’s $3.52 trillion. At one point during the week, Nvidia briefly surpassed Apple’s market cap, reaching $3.53 trillion.

Huang’s productive week also included a trip to India to finalize a deal that would make Nvidia’s chips available to tech companies in the country. This move further solidifies Nvidia’s position as a key player in the global chip market.

Notably, Nvidia’s Blackwell chips, known for their exceptional artificial intelligence capabilities, have been in high demand. The company reportedly supplies 80% to 85% of the graphic processing units required for AI applications. Major tech giants such as Microsoft, Meta, Amazon, and Alphabet are already among Nvidia’s biggest customers. The Blackwell chips will be integrated into new AI servers manufactured by Dell Technologies, with shipments set to begin in November and wider availability expected in early 2025.

The frenzy surrounding the Blackwell chips has been so intense that even tech titans Larry Ellison, executive chairman of Oracle, and Elon Musk, CEO of Tesla, personally appealed to Jensen Huang for access. Ellison described their meeting as a plea for Nvidia to “take more of our money.” It appears their request was granted, as the next year’s production of Blackwell chips is already pre-sold.

As earnings reports from major tech companies approach, the CEOs may face questions about their AI spending and the power of their technology. Nvidia’s dominance in the AI market positions it as a significant player in these discussions.