Nvidia hits $4 trillion market cap, first company to do so

In a historic milestone, Nvidia's stock soared over 2% on Wednesday, propelling the tech powerhouse to a remarkable $4 trillion market capitalization. This achievement marks Nvidia as the first company to ever attain such a valuation, reflecting the booming demand for technology that supports the generative artificial intelligence sector. As the world's most valuable corporation, Nvidia has eclipsed industry giants Microsoft and Apple, both of which previously reached the $3 trillion threshold. Notably, Microsoft is not only a major competitor but also one of Nvidia's key clients, further intertwining their fates in the tech landscape. Founded in 1993 and headquartered in California, Nvidia first crossed the $2 trillion mark in February 2024 and hit the $3 trillion milestone just four months later in June. The company's impressive growth trajectory has been largely driven by its leadership in the production of graphics processing units crucial for large language models, especially following the surge in interest surrounding AI technologies like ChatGPT since late 2022.