Nvidia’s total market value as of the close Wednesday, tops in the S & P 500. It regained the No. 1 sport from Apple ($3.461 trillion) earlier this week. Microsoft is the only other company with a market value above $3 trillion ($3.089 trillion). One year ago, Nvidia's market value was around $1.243 trillion.

Goldman Sachs said Nvidia has another trick up its sleeve to drive its stock price higher going forward: a massive stock buyback program.

Nvidia's (NVDA) third quarter earnings report out Wednesday saw the chipmaker once again blow away Wall Street forecasts.  And analysts across the Street were quick to praise the results, which showed the world's largest public company continuing to benefit from the AI boom.