Nvidia became the first company to reach 4 trillion in market value on Wednesday, a new threshold in Wall Streets bet that artificial intelligence will transform the economy.
Shortly after the stock market opened, Nvidia, which is led by electrical engineer Jensen Huang, vaulted as high as 164.42, giving it a valuation above 4 trillion before retreating slightly.
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 has now attained 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, potentially boosting productivity while also challenging incumbent sectors and companies.
The California chip companys latest surge is helping to drive a recovery in the broader stock market, even as Nvidia itself outperforms major indices. Part of this is due to relief that President Donald Trump has walked back his most draconian tariffs, which pummeled global markets in early April.