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Getty Images<\/span><\/div>\n<\/div>\n<\/figure>\nNvidia has become the first company in the world to reach a market value of $4tn. <\/p>\n
Shares in the chip-maker rose by as much as 2.4% to $164 on Wednesday, as the company continues to benefit from the ongoing surge in demand for the tech that powers artificial intelligence (AI).<\/p>\n
The US-based company reached a market value of $1tn for the first time in June 2023, and has continued to climb rapidly since.<\/p>\n
Tech analyst Dan Ives, of Wedbush Securities, said in a note that was in a historic moment for Nvidia.<\/p>\n
“They are the only game in town with their chips the new gold and oil,” he wrote.<\/p>\n<\/div>\n
“There is one company in the world that is the foundation for the AI Revolution and that is Nvidia.”<\/p>\n
Nvidia’s share price dipped significantly in April when global markets were jolted by US President Donald Trump’s intensifying tariff war.<\/p>\n
Though concerns over Trump’s trade policies have not gone away, Nvidia’s share price has grown strongly since spring to hit this new landmark.<\/p>\n
Eight years ago, Nvidia’s stock was worth less than 1% of its current price.<\/p>\n<\/div>\n
At the time, its growth was driven by competition with rival AMD to build the best graphics cards.<\/p>\n
More recently, Nvidia has surged due to rising demand for chips powering generative AI models like ChatGPT.<\/p>\n
Its meteoric rise has also elevated CEO Jensen Huang’s profile. <\/p>\n
Mark Zuckerberg dubbed the 61-year-old “the Taylor Swift of tech,” reflecting his celebrity status, especially in Taiwan, where fans treat him like a rock star.<\/p>\n
Nvidia’s continually rising value is a sign of Wall Street’s faith in AI growth, despite the turbulence surrounding Trump’s economic policies.<\/p>\n
The company reported a total revenue of $44.1bn in the first quarter, marking a 69% jump from a year ago along with a profit of 81 cents a share.<\/p>\n<\/div>\n<\/div>\n