Nvidia is officially a $5 trillion company

Nvidia has become the world's first $5 trillion company. Shares soared by up to 5 percent to over $211 around 9:30AM ET on Wednesday morning, according to Bloomberg, marking the latest milestone for a company that only just hit the $4 trillion mark in July.

Nvidia shares have been on the rise as the company continues to make waves in AI. Apple currently sits behind Nvidia with a $4 trillion market cap, followed by Microsoft, Google's parent company Alphabet, Amazon, and Meta.

Nvidia crossed the $5 trillion barrier after announcing a deal to purchase $1 billion in Nokia shares, along with a partnership that will help it develop AI native" 5G-Advanced and 6G cellular networks.

Shares continued to rise after President Donald Trump said on Tuesday that he plans to talk with Chinese President Xi Jinping about Nvidia's powerful Blackwell AI chip, which export controls currently prevent it from selling in the country.