(Bloomberg/Ryan Vlastelica and Subrat Patnaik) — 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 rallied as much as 5.6% to $212.19 as of 11:00 a.m. New York time, propelling Nvidia 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 the global economy. With a 50% gain this year through Tuesday’s close, the stock is

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