Nvidia topped a $3 trillion valuation for the first time since February. A fresh AI partnership with Saudi Arabia was boosting the stock on Tuesday.

Other semiconductor stocks also did well Monday after Beijing and Washington agreed to drastically reduce tariffs for 90 days while talks on a more permanent deal continue.

The market loved the news. Nvidias stock climbed more than 5% Wednesday, after already rallying the day before. The jump pushed its valuation to about $3 trillion, setting it up to possibly surpass Apple in the coming days.