India, Oct. 29 -- Nvidia Corp. has become the first company to achieve a market capitalisation of $5 trillion, powered by a stunning stock rally that has cemented its place at the center of the global AI boom.

Shares of the Santa Clara, California-based company rose 3.5% after a string of recent announcements solidified its dominance in the AI race.

Nvidia has taken just three months to go from a market capitalisation of $4 trillion to $5 trillion-that's larger than the total valuation of the crypto market and roughly half the size of Europe's Stoxx 600 index.

The milestone underscores the Nvidia's swift transformation from a niche graphics-chip designer into the backbone of the global AI industry, turning CEO Jensen Huang into a Silic...