Chip giant Taiwan Semiconductor Manufacturing Co. plans to invest $100 billion in the United States, President Donald Trump said Monday, on top of $65 billion in investments the company had previously announced.

TSMC, the world’s biggest semiconductor manufacturer, produces chips for companies including Apple, Intel and Nvidia. The company had already begun constructing three plants in Arizona after the Biden administration offered billions in subsidies. Its first factory in Arizona has started mass production of its 4-nanometer chips.

Will the new presidential administration play nice with large technology companies?

For now, it looks like there are some warm feelings — as President Donald Trump on Tuesday announced a major investment in artificial-intelligence infrastructure that calls for OpenAI, SoftBank Group Corp. 9984 SFTBY and Oracle Corp. ORCL to create a joint venture named Stargate that will focus on data centers and other infrastructure projects.

Nvidia became the most valuable company in the world with a market cap of $3.33 trillion, overtaking Microsoft.

The US-based chip manufacturer has control over about 80% of the market for artificial intelligence chips.

“It’s Nvidia’s market; we’re all just trading in it,” a market strategist at a global brokerage firm said. Another analyst called Nvidia’s chips “the new gold or oil in the tech sector.”

Nvidia’s startling ascent in the stock market reached another milestone Tuesday as the chipmaker rose to become the most valuable company in the S&P 500. Investors now say the company is worth over $3.3 trillion.

Nvidia has seen soaring demand for its semiconductors, which are used to power artificial intelligence applications. Revenue more than tripled in the latest quarter from the same period a year earlier.

The company’s journey to be one of the most prominent players in AI has produced some eye-popping numbers. Here’s a look:

Nvidia, Wall Street’s favorite artificial intelligence darling, is continuing to swell to staggering heights.

The AI chipmaker’s market capitalization rose to $3.019 trillion on Wednesday, nudging slightly past Apple’s also $2.99 trillion market cap and making it the second-largest publicly traded company in the US by that measure, just behind Microsoft’s market cap of $3.15 trillion.

Nvidia is now the third company in the US, behind Apple and Microsoft, to cross that $3 trillion mark.

Elon Musk claims he can grow Tesla into “a leader in AI & robotics,” an ambition that he’s said will require a lot of pricey processors from Nvidia to build up its infrastructure.

Apple has been developing chips to run artificial intelligence software in data centers, the Wall Street Journal reported Tuesday. 

Project ACDC (Apple Chips in Data Center), which has been in the works for several years, has no clear timeline, WSJ reported, citing people familiar with the matter. 

The iPhone maker has been working with Taiwan Semiconductor Manufacturing Co. on the chip’s design and production, though it remains uncertain whether the efforts have yielded any positive results, the report said. 

The decline in “Magnificent Seven” stocks erased a collective $950 billion from their market capitalizations this week, which made for the group’s worst-ever weekly loss of market value.

While Tesla Inc.’s stock TSLA was the biggest weekly percentage decliner of the gang from a stock perspective, Apple Inc. AAPL, Microsoft Corp. MSFT and Nvidia Corp. NVDA were bigger contributors to the market-cap losses, as those latter three companies are all worth substantially more than the electric-car maker.