Nvidia Corporation has become the first public company in the world to reach a market valuation of $4trillion, making it one of Wall Street's most favoured stocks.
Shares of the artificial intelligence chip designer closed up 1.8%, at $162.88 in New York on Wednesday leaving the company with a valuation of $3.97trillion.
The record-breaking day was achieved just over a year since the company overtook Apple and Microsoft in the market.
Microsoft is the second biggest US company, with a market cap of $3.74trillion. Its shares rose 1.4% to $503.51. Apple stock inched up 0.5% on the day to $211.14, valuing the business at $3.15trillion.
Dan Ives, an analyst at Wedbush Securities, said: “This is a historic moment for Nvidia and speaks to the AI revolution hitting its next stage of growth.
"We believe Microsoft will also hit the $4trillion market cap club this summer and then over the next 18 months the focus will be on the $5trillion club.”
Read the full story in The Times.
FTSE 100
The UK's flagship share index, the FTSE 100, was up 58 points at 8,933 shortly after opening this morning.
Brent crude oil futures were up 0.34% at $67.64 a barrel.