Walmart said on Thursday it will move its longstanding listing from the New York Stock Exchange to the Nasdaq, marking the largest exchange transfer ever recorded and handing a major win to the tech-focused bourse.

The retail giant, valued at about $852 billion, said the switch reflects its growing alignment with technology and artificial intelligence initiatives—an unusual nod for a company rooted in traditional retail but increasingly investing in digital operations.

The move is a significant loss for the NYSE, where Walmart ranks as the fourth-largest listing by market capitalization, according to LSEG data. It also underscores Nasdaq’s ongoing efforts to attract more blue-chip companies as competition between the two U.S. exchanges intensifies.

Walmart’s shares are expected to begin trading on Nasdaq later this year.