Nvidia became the first company to surpass $5 trillion in market value after a fresh rally driven by AI-chip demand.

Nvidia just became the first company ever worth $5 trillion, meaning those who own even just a fraction of a percent of the high-flying stock are now super rich. The latest to join the billionaire club: 77-year-old venture capitalist and longtime Nvidia board member Brooke Seawell,

Nvidia was set to open above a $5 trillion market value on Wednesday, becoming the first company to reach the milestone after a powerful rally that has made the chip designer the centerpiece of the artificial intelligence boom.

Nvidia commits $1 billion to acquire a 2.9 % stake in Nokia, aiming to build AI-networking infrastructure and signal next-gen connectivity strategy.

Nvidia is on track to become the first $5 trillion company, just three months after the Silicon Valley chipmaker was first to break through the $4 trillion barrier

Unprecedented demand for the company’s AI chips have propelled the company’s market valuation into the stratosphere.

The chipmaker on Wednesday became the first publicly listed company to top $5 trillion in market value, boosted by demand for its AI chips.

The chipmaker has made dozens of investments in AI-related companies just this year, including its latest in Nokia.