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Jensen Huang is the pied piper of this market, and Nvidia (NVDA) is his flute. Not only is the first company to breach the $5 trillion market cap mark showing no signs of stopping, but by association with it, stocks of other companies are also flying.
Take the case of Caterpillar (CAT), the infrastructure behemoth whose shares popped after Nvidia announced at its GTC conference that Caterpillar is using the company's Omniverse technologies to build digital twins of its factories and supply chains for use in advanced manufacturing such as predictive maintenance and dynamic scheduling. Although the location of the factories has not been disclosed, Caterpillar has been an under-the-radar beneficiary of the AI architecture buildup across the country.