Nvidia Becomes First $5 Trillion Firm as AI Rally Picks Up Steam

Nvidia Corp. achieved a historic $5 trillion market capitalization on Wednesday as Chief Executive Officer Jensen Huang’s spree of deals catapults the artificial intelligence frenzy to new heights.

The shares closed 3.1% higher at $207.16, propelling Nvidia just over the milestone. It’s only been four months since the company cracked the $4 trillion barrier, and the rally has accelerated as Huang forges new agreements to supply companies from Nokia Oyj to Samsung Electronics Co. and Hyundai Motor Group with chips.

Nvidia has become the most-important stock in a bull market that’s been driven by optimism for AI to revolutionize ...