Nvidia became the first company to reach a market capitalization of $4 trillion amid a rapid rise in tech stocks on Wall Street over the past few months.
Shares of the AI chip manufacturer rose 2.8% on Wednesday to $164.36. The company surpassed Apple’s record of $3.92 trillion set in December last year.
Nvidia is now the most valuable company in the world, ahead of Microsoft and Apple. Microsoft is also one of Nvidia’s largest and most important customers.