Dan Ives Says China Key To Nvidia Market Capitalization Reaching $5 Trillion: Report

Wedbush’s Managing Director, Dan Ives, on Wednesday stated that China is crucial to Nvidia Corp.’s (NVDA) market capitalization reaching the $5 trillion milestone, even as Speaker Mike Johnson said the country’s ban on Nvidia’s chips is straining its relations with the U.S.

“When you look at the upside, how you get to the $5 trillion market cap for Nvidia, China is a key part of that story. But I believe here the bark will be ultimately worse than the bite,” Ives said in an interview with CNBC, referring to the directive by the Cyberspace Administration of China to Chinese tech giants to halt the testing and procurement of Nvidia’s RTX Pro 6000D chip.

Nvidia’s shares were down 1% in Tuesday’s pre-market trade. Retail sentiment on Stocktwits around the company trended in the ‘neutral’ territory.

“The part of the issue here is that, when we see it, all the big Chinese tech players, they’re going to want Nvidia’s chips. There’s one chip in the world fueling the AI revolution,” he added.

In a separate interview with CNBC, Speaker Mike Johnson called China an “adversary” while reacting to the ban on Nvidia’s chips.

Reacting to the China ban, Nvidia CEO Jensen Huang said he was “disappointed,” and that the company’s business in China was a “bit of a rollercoaster,” according to a CNBC report. “We probably contributed more to the China market than most countries have. And I’m disappointed with what I see. But they have larger agendas to work out between China and the United States, and I’m understanding of that,” he added.

NVDA stock is up 30% year-to-date and 50% in the past 12 months.

Also See: Scott Bessent Made Contradictory Mortgage Pledges Like Fed Governor Lisa Cook, Whom Trump Fired: Report

For updates and corrections, email newsroom[at]stocktwits[dot]com.