Nvidia has moved ahead of Apple in market capitalization. This is a sign that people expect the artificial intelligence boom to continue.

Chip-making giant Nvidia surpassed Apple on Tuesday to become the highest valued company in the world as the artificial intelligence boom continues to excite Wall Street.

Nvidia has overtaken Apple to become the most valuable corporation worldwide, reflecting AI’s growing dominance. Bloomberg reported that on 5,

Nvidia is now the world’s most valuable company, surpassing Apple in a tech shake-up that reflects the growing dominance of artificial intelligence. Nvidia’s market capitalization rose nearly 3 percent Tuesday and closed at $3.

With a $3.42 trillion market capitalization, Nvidia overtakes Apple as the most valuable publicly traded corporation in the world. Its extraordinary growth is driven by its supremacy in the AI and GPU markets.

Nvidia and Apple, along with software and cloud computing giant Microsoft, have been vying for the title of the world’s most valuable company since the summer. Robust demand for artificial intelligence infrastructure has fueled Nvidia's meteoric rise.