• NVDA hit an intraday high of $227.16 on Wednesday, making it the first company to hit a market cap of $5.5 trillion.
• BofA’s commentary comes ahead of the Trump-Xi summit today and first-quarter earnings next week.
• The company is expected to report revenue of $78.98 billion and adjusted profit of $1.78 per share for the first quarter.

Nvidia (NVDA) shares rose as much as nearly 3% on Wednesday morning, making it the first company ever to hit a market capitalization of $5.5 trillion.

According to TheFly, BofA raised its calendar-year 2030 AI data center systems total addressable market outlook to $1.7 trillion from $1.4 trillion. The firm said 2026 will continue to be a year of accelerating AI sales and return on investments for Nvidia, and it could see improving tokenomics/efficiency in 2027 as new architecture compute and memory systems ramp.

The commentary also comes ahead of the Trump-Xi summit, which will take place over the next two days, where a deal with China could open up an additional revenue stream for the company. BofA continues to be bullish on NVDA with a ‘Buy’ rating, and gave it a $20 price target hike to $320, now implying an upside potential of nearly 45% as of Tuesday’s closing price.

Jensen Huang’s China Visit

Nvidia has been in the headlines after U.S. President Donald Trump confirmed earlier on Wednesday that CEO Jensen Huang is accompanying him for the high-profile summit in Beijing with Chinese leader Xi Jinping, after reports initially said he was not invited for the trip.

Huang will be joining Apple’s Tim Cook and Tesla’s Elon Musk, who are among the prominent names of Trump’s entourage.

Earlier this month, the company and Gorilla Glass maker Corning (GLW) struck a crucial partnership to expand U.S. manufacturing of optical connectivity solutions that are crucial to powering AI infrastructure by 10x. Nvidia also tied up with IREN to deploy up to 5 gigawatts of NVIDIA DSX-aligned AI infrastructure across IREN’s global data center pipeline over time.
 

What Do Retail Traders Think About NVDA

On Stocktwits, retail sentiment about NVDA turned ‘extremely bullish' from ‘bullish’ amid ‘high’ message volumes over the last 24 hours.

One user on the platform said the stock could hit $300 if the U.S. and China announce a deal for the company’s chips.

Another user expects the company’s market cap to hit $6 trillion soon.

NVDA stock has gained more than 21% so far this year and more than 84% over the past 12 months, outperforming the S&P 500.

The company is set to report earnings on May 20 after the closing bell. For the first quarter, the revenue estimate is $78.98 billion, and adjusted profit is $1.78 per share, according to data from Fiscal AI.

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