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Nvidia's stock market value hits $3 trillion for first time

FILE PHOTO: Illustration shows NVIDIA logo

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

(Reporting by Medha Singh in Bengaluru; Editing by Shilpi Majumdar and Leslie Adler)