Chipmaker Nvidia became the first public company to top $4 trillion in value after a two-year investor frenzy driven by the artificial intelligence boom.
Nvidia shares rose 2.5% in early trading Wednesday, topping $164 each. At the beginning of 2023, Nvidia shares were around $14 each. The company’s rise has been meteoric.
The Santa Clara, California, company was founded in 1993. In just over a decade, it was worth $2 trillion. In June 2024, it reached $3 trillion.
Nvidia quickly surpassed Microsoft, Apple, Amazon and Google parent Alphabet. The stock’s movement carries more weight on the S&P 500 than any other company.
In its most recent quarter, Nvidia overcame tariff-driven turbulence to deliver another quarter of robust growth amid feverish demand for its high-powered AI chips. Nvidia notched a profit of $18.8 billion as its revenue surged 69% to $44.1 billion.
Nvidia reports its second-quarter results next month. Wall Street is expecting another quarter of record sales and profit for the company.
Nvidia and other companies benefiting from the AI boom have been a major reason the S&P 500 has climbed to record after record recently. Their explosion of profits has helped to propel the market despite worries about stubbornly high inflation and possible pain coming for the U.S. economy from tariffs and other policies of President Donald Trump.
Bitcoin rockets to a record high, just shy of $112,000
Bitcoin reached a fresh all-time high on Wednesday, climbing close to the $112,000 mark as demand from institutional investors and a broader appetite for risk continued to drive momentum in the cryptocurrency market.
The world’s most popular digital currency touched a new peak of $111,988.90 during the day and was last seen trading at $111,259, up 0.4%. Since the beginning of 2025, Bitcoin has gained more than 18%, making it one of the top-performing assets of the year so far.
The rally is being supported by several factors, including expectations of a rate cut in the United States, falling strength of the dollar, and a renewed interest from large financial firms that are now more comfortable investing in cryptocurrencies.