Shortly after the stock market opened, Nvidia vaulted as high as $164.42, giving it a valuation above $4 trillion. The stock subsequently edged lower, ending just under the record threshold
Jensen Huang, CEO, Nvidia
Image: Thibaud Moritz / AFP
Nvidia became the first company to touch $4 trillion in market value on Wednesday, a new milestone in Wall Street's bet that artificial intelligence will transform the economy.
Shortly after the stock market opened, Nvidia vaulted as high as $164.42, giving it a valuation above $4 trillion. The stock subsequently edged lower, ending just under the record threshold.
"The market has an incredible certainty that AI is the future," said Steve Sosnick of Interactive Brokers. "Nvidia is certainly the company most positioned to benefit from that gold rush."
Nvidia, led by electrical engineer Jensen Huang, now has a market value greater than the GDP of France, Britain or India, a testament to investor confidence that AI will spur a new era of robotics and automation.
The California chip company's latest surge is helping drive a recovery in the broader stock market, as Nvidia itself outperforms major indices.