The stock is up almost 200% year-over-year. And this week, Nvidia stock is approaching its all time high and breathing down Apple’s (AAPL) neck to take the “world’s most valuable company” title. Today,

Nvidia CEO Jensen Huang said on a podcast says he hopes Nvidia will one day be a 50,000-employee company that works with 100 million AI assistants.

One analyst says customers are in a “prisoner’s dilemma” that will keep them spending, while another was encouraged by recent Nvidia commentary on the company’s “moat.”

Shares of Nvidia increased by more than 3% Monday morning, putting the chip maker’s stock on pace for a record close as it nears an intraday high as the company is once again on the cusp of becoming the world’s most-valuable company ahead of Apple.

In June, Nvidia briefly became the world's most valuable company. It was overtaken by Microsoft, and the tech trio's market capitalizations have been neck-and-neck for several months. The latest gains lifted Nvidia's market value to $3.39 trillion, just below Apple's $3.52 trillion value and above Microsoft's $3.12 trillion.