new york: Chipmaker Nvidia became the first public company to top $4 trillion in value on Wednesday after two-year investor frenzy.
Nvidia shares rose 2.5%, or $3.97, in early trading Wednesday, topping $164 each. At the beginning of 2023, Nvidia shares were around $14 each.
The poster child of the AI boom, Nvidia has grown into largest company on Wall Street, surpassing Microsoft, Apple, Amazon and Google — it is now worth over $3 trillion — and the stock’s movement carries more weight on the S&P 500 and other indexes than every company except Apple.
Two years ago, Nvidia’s market value was below $600 billion. Nvidia and other companies benefiting from the AI boom have been a major reason S&P 500 has climbed to record after record recently.