(Reuters) - Nvidia's ( NVDA ) stock market value hit $3 trillion for the first time on Wednesday as the chipmaker benefited from a race between Wall Street's heavyweights to dominate AI technology.

Shares of the maker of specialized AI chips were last up 4.75%.

Nvidia ( NVDA ) shares touched an intra-day record high of $1,219.93, giving it a market capitalization of $3 trillion.