Nvidia Tops $5.05T After $500M Corning Investment

Nvidia shares rose 5.39% to close at $207.09 on Wednesday, lifting the company’s market capitalization to about $5.05 trillion. The stock gain followed the company’s announced investment in Corning and reports of progress toward a peace agreement involving Iran; Nasdaq futures rose more than 1% and oil prices fell the same day.

Nvidia said it will invest $500 million in Corning and received two warrants in a securities filing. One warrant allows Nvidia to buy up to 15 million Corning shares at $180 each; a second warrant covers 3 million shares at $0.0001 per share. Corning’s stock rose about 14% after the announcement.

Corning committed to increase its U.S. optical-connectivity manufacturing capacity tenfold, plan three new factories in North Carolina and Texas, and hire more than 3,000 workers. The company intends to supply fiber-optic components for data centers and AI infrastructure.

Nvidia described the Corning agreement as the third element of a supply-chain strategy it began in March, when it invested about $4 billion across Coherent and Lumentum, suppliers of laser components for Nvidia’s Spectrum-X co-packaged optics system.

In a statement, Nvidia CEO Jensen Huang wrote, “AI is driving the largest infrastructure buildout of our time, and a once-in-a-generation opportunity to reinvigorate American manufacturing and supply chains. Together with Corning, we are inventing the future of computing with advanced optical technologies, building the foundation for AI infrastructure where intelligence moves at the speed of light.”

Market data show Nvidia held about 86% of the AI accelerator market in 2025, the same share it held in 2024. Alphabet, Amazon, Meta and Microsoft together expect to spend as much as $725 billion this year on data centers and equipment; those four firms account for roughly 45% of Nvidia’s sales.

Competition in AI processors is increasing. AMD reported adjusted earnings per share of $1.37 and saw its shares rise about 5% after the report and a stronger sales outlook. Several large technology companies are developing custom chips: Anthropic plans to spend about $200 billion with Alphabet over five years, Amazon has said its Trainium chips have secured more than $225 billion in future revenue agreements, and Meta plans to deploy chips it designed internally.

Nvidia is scheduled to report first-quarter earnings on May 20. Investors will monitor that report for information on how infrastructure investments and customer demand are affecting revenue and margins, and how geopolitical developments continue to affect markets and energy prices.