NVIDIA becomes the first company in the world to briefly achieve a market capitalisation of $4 trillion on Wednesday, solidifying its position as one of Wall Street's most-favoured stocks, reports Reuters.
Profiting off an ongoing swell in the demand for AI technologies, NVIDIA's shares rose as much as 2.8 percent to an all-time high of 164.42 USD.
The company's stock ended with a gain of 1.80 percent, leaving it with a market value of 3.97 trillion USD.
NVIDIA's soaring market value underscores Wall Street's confidence in the rapid growth of AI, with the company's high-performance chips constituting the backbone of this technological advance.
"It highlights the fact that companies are shifting their asset spend in the direction of AI, and it's pretty much the future of technology," said Robert Pavlik, senior portfolio manager at Dakota Wealth in New York.
The stock's recent surge follows a sluggish start to the year, when the emergence of a Chinese discount artificial-intelligence model developed by DeepSeek shook confidence in stocks linked to the sector.
NVIDIA achieved a $1 trillion market value for the first time in June 2023 and tripled it in about a year, faster than Apple and Microsoft, the only other US firms with market values above $3 trillion.
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