Nvidia created history on Wednesday by becoming the first company in the world to touch a market value of $5 trillion. This remarkable rise has strengthened its position at the heart of the global artificial intelligence revolution.

The milestone underscores the company’s swift transformation from a niche graphics-chip designer into the backbone of the global AI industry, turning CEO Jensen Huang into a Silicon Valley icon and making its advanced chips a flashpoint in the tech rivalry between the US and China.

Since the launch of ChatGPT in 2022, Nvidia’s shares have climbed 12-fold as the AI frenzy propelled the S&P 500 to record highs, igniting a debate on whether frothy tech valuations could lead to the next big bubble.

Nvidia’s Purple Patch

The new milestone, coming just three

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