Nvidia has become the first $5 trillion company, just three months after the Silicon Valley chipmaker was first to break through the $4 trillion barrier.

Hitting the new benchmark highlights the upheaval being unleashed by an artificial intelligence craze that’s widely viewed as the biggest tectonic shift in technology since Apple co-founder Steve Jobs unveiled the first iPhone 18 years ago. Apple rode the iPhone’s success to become the first publicly traded company to be valued at $1 trillion, $2 trillion and eventually, $3 trillion.

But there are concerns of a possible AI bubble, with officials at the Bank of England earlier this month flagging the growing risk that tech stock prices pumped up by the AI boom could burst.

The ravenous appetite for Nvidia’s chips is the main reason that

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