NVIDIA's market value is approaching $5 trillion, and a number of partnerships have fueled the rally

NVIDIA (NVDA. O) shares rose to 6% in afternoon trading in the US, pushing the AI chip giant's market value above $4.90 trillion for the first time. The rise was helped by the company's new cooperation agreements and the market's enthusiastic response to CEO Huang Renxun's speech at the GTC conference in Washington. On the news, NVIDIA and pharmaceutical company Eli Lilly have reached a cooperation to jointly build the most powerful supercomputer in the field of medicine, which will be used to accelerate the development of new drugs. Huang Renxun released the new NVQLink interconnection system to achieve efficient docking between quantum processors and AI supercomputers. "NVQLink is the'Rosetta Stone 'connecting quantum and classical supercomputers," he said. Nvidia will partner with the U.S. Department of Energy to build seven new artificial intelligence supercomputers. The company will also invest $1 billion in Nokia for artificial intelligence cooperation. After the deal is completed, Nvidia will hold a 2.9% stake in the telecommunications company. In addition, Huang Renxun also refuted claims of an AI bubble.