Nvidia stock jumped more than 2% on Wednesday, lifting the company’s market cap past $4 trillion for the first time as investors scooped up shares of the tech giant building the bulk of the hardware for the generative artificial intelligence boom. The chipmaker is the first company to ever achieve this market value and is trading at the highest market cap ever recorded for a publicly traded company, beating out Apple’s previous record from December. Nvidia is the world’s most valuable company, surpassing Microsoft
and Apple, both of which hit the $3 trillion mark before Nvidia. Microsoft is also one of Nvidia’s biggest and most important customers. The California-based company, which was founded in 1993, first passed the $2 trillion mark in February 2024, and surpassed $3 trillion in June. Nvidia has profited heavily from the growing demand for AI hardware and chips since the launch of ChatGPT in late 2022. The company has positioned itself as the decisive leader in creating the graphics processing units that power large language models. The surge in demand has boosted shares in the chipmaking behemoth more than fifteenfold over the last five years. Nvidia’s shares are up more than 15% over the last month and 22% since the start of the year. The recent rally in Nvidia has come despite geopolitical tensions and ongoing chip curbs that have hampered sales to China. Nvidia has also recovered from fears sparked by China’s DeepSeek model earlier this year that future AI wouldn’t need so many chips.

Full report : Nvidia hits a $4T market cap in intraday trading, the first company to do so, after passing $3T in June 2024, $2T in February 2024, and $1T in May 2023.