Nvidia became the first company to surpass a $5 trillion market value Wednesday after its shares jumped more than 4%, capping a surge of over 50% so far this year.

The milestone underscores Nvidia’s transformation from a gaming chipmaker to a dominant force in artificial intelligence, fueled by expectations of $500 billion in AI chip orders and plans to build seven new U.S. supercomputers.

The company also announced a $1 billion investment in Nokia to jointly develop 6G technology, CNBC has reported.

The broader U.S. stock market hit record highs alongside Nvidia’s rise, though global financial leaders have warned of potential risks if the AI boom cools.