NEW YORK, United States (AFP) — Artificial intelligence chip juggernaut Nvidia became the world’s first $5-trillion company on Wednesday, as investors remain confident that AI will deliver a new wave of innovation and growth.

The California-based tech giant saw its share price rise by 4.91 percent to $210.90 at the open of trading on Wall Street, pushing Nvidia’s market capitalization past the never-before-seen threshold.

By way of comparison, the level was greater than the gross domestic product of France or Germany or higher than that of Tesla, Meta (Facebook) and Netflix combined.

Microsoft and Apple, the two other largest global market capitalizations, only just exceed $4 trillion in valuation each.

The surge in Nvidia’s share price follows continued strong sales, a flurry of new deals — including a partnership with Europe’s Nokia announced on Tuesday — as well as expectations that the company may soon regain access to China.

The company is “largely ahead of any competitor who finds it hard to catch up in the world that Nvidia lives in,” Art Hogan of B. Riley Wealth Management told Agence France-Presse.

“While it’s almost unfathomable to think about a company reaching this milestone, it comes from a company with so many operational efficiencies that seems to announce massive deals on a daily or weekly basis.”