Nvidia briefly reached a market capitalization of $4 trillion on Wednesday, making it the first company in the world to reach the milestone and solidifying its position as one of Wall Street's most-favored stocks.

Nvidia has beaten rivals Apple and Microsoft to become the first company to reach a market value of $4 trillion. The AI chip maker, which closed at $162.88 a share and just shy of the $4 trillion mark,

The A.I. chip maker reached the landmark before Apple and Microsoft, as its value rose more than tenfold after ChatGPT’s release in late 2022.

Silicon Valley chipmaker Nvidia on Wednesday became the first publicly traded company to surpass a $4 trillion market valuation, putting the latest exclamation point on the investor frenzy surrounding an artificial intelligence boom powered by its industry-leading processors.