Nvidia on Tuesday exceeded Apple’s market capitalization to become the world’s largest company, on the strength of a global AI push. As Bloomberg notes, the chipmaker has experienced an astronomical 850% growth since the tail end of 2022.

Nvidia was valued at $3.43 trillion at the close of market, topping Apple’s $3.38 trillion. This isn’t the first time the two have swapped places; Nvidia also pushed past Apple in June, though it only held the top spot for a day.

Apple recently launched its own small model generative AI offering, Apple Intelligence. Nvidia, on the other hand, remains a foundational piece of the world’s top large language models -- for now. At the end of October, Reuters reported that ChatGPT-maker OpenAI has been working with Broadcom on its own proprietary systems.

This article originally appeared on TechCrunch at https://techcrunch.com/2024/11/05/nvidia-just-became-the-worlds-largest-company-amid-ai-boom/