Nvidia (NVDA) on Wednesday became the first publicly traded company to hit the $4 trillion mark, surpassing fellow tech players including Microsoft (MSFT) and Apple (AAPL). The chipmaker’s stock price is up around 22% year to date and 24% over the past 12 months.
Nvidia closed Wednesday’s session at a record high, up nearly 2% for the day. Its market cap ended up slightly under the $4 trillion mark at the close.
The move comes as the chip giant continues to ride the wave of generative AI hype that kicked off with the introduction of OpenAI’s ChatGPT in 2022.
Nvidia’s chips, modified graphics cards, and CUDA software platform are designed to both train and run AI programs, giving it a strategic advantage that rivals AMD (AMD) and Intel (INTC) continue to struggle to overcome.
Tech behemoths, including Amazon (AMZN), Google (GOOG), Meta (META), Microsoft, Tesla (TSLA),…
