At its core, a large portion of Nvidia's future growth can be summed up by one accounting term: capital expenditures (capex). Capex is just Wall Street jargon for spending related to infrastructure and property buildouts, such as data centers.

Nokia’s shares surged over 20% this week after Nvidia stock revealed a $1 billion investment forming a new alliance to develop AI-driven networking and 6G infrastructure.

Both companies were back at it on Tuesday, announcing deals that once again added billions in value to public companies.

The topic of the "best" artificial intelligence (AI) stock to buy right now is a spirited debate. One may advocate for companies building AI software, while another may be a proponent of rising stars like AMD ( AMD 0.52%) and Broadcom ( AVGO +2.99%) after their OpenAI partnership announcement.

Despite a wave of key S&P 500 earnings and a Fed rate cut on deck this week, Nvidia is once again drawing the biggest headlines and driving the biggest market swings. The chip giant made a series of announcements Tuesday including: A $1 billion investment in Nokia, the legacy telecom company

Nvidia ( NVDA) on Wednesday became the first company in history to be valued above $5 trillion. Nvidia stock rose as much as 3.4% at the market open, pushing its market capitalization above $5 trillion for the first time as the chip giant continues to be the biggest winner from the AI boom.

Nvidia's stock has grown by 25,226% over the past decade -- with more room to grow.

After the close on Tuesday, Joby Aviation announced a collaboration with Nvidia to develop autonomous flight capabilities using Nvidia’s IGX Thor platform. Thor, which shares its name with the Norse god, is an Nvidia AI computing platform designed for use in physical products such as planes and robots.