Nvidia becomes first company to hit $4 trillion valuation

The AI chipmaker’s market value smashed the previous record valuation, set by Apple.

Nvidia is the first company to reach a $4 trillion valuation.

The chipmaker’s shares rose as much as 2.5% on Wednesday, pushing past the previous market value record ($3.9 trillion), set by Apple in December. Shares in the AI giant later closed at $162.88, shrinking the company's market value to $3.97 trillion.

Nvidia has rallied by more than 70% from its April 4 low, when global stock markets were sent reeling by President Donald Trump’s global tariff rollout.

Tech analyst Dan Ives called Wednesday's milestone a “huge historical moment for the U.S. tech sector.”

The record value comes as tech giants such as OpenAI, Amazon and Microsoft are spending hundreds of billions of dollars in the race to build massive data centers to fuel the artificial intelligence revolution. All of those companies are using Nvidia chips to power their services, though some are also developing their own.