As the chipmaker becomes world’s most valuable company, marketers face a new reality: the AI tools reshaping creative work and ad buying rely on a single supplier with growing influence.

Nvidia holds a 7.3% weight on the S&P 500, the biggest on the index.

Nvidia’s chips power the data centers that companies like Microsoft, Amazon and Google need to fuel their AI models and cloud services — and AI investments are only expected to grow.

This milestone marks a rapid ascent for the US-based company, which first reached a $1 trillion market value in June 2023. Tech analyst Dan Ives of Wedbush Securities described it as a “historic moment,” emphasizing Nvidia’s foundational role in the AI revolution. “They are the only game in town with their chips the new gold and oil,” Ives noted.

Nvidia and other companies benefiting from the boom in artificial intelligence have been a major reason the S&P 500 has recently climbed to a record.