Nvidia becomes first company to hit $4 trillion in market value

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

Shares of the leading chip designer rose as much as 2.5% to an all-time high of $164 earlier in the morning trading, as the company is benefiting from the ongoing surge in demand for artificial intelligence technologies.

COMMENTS:

CHUCK CARLSON, CHIEF EXECUTIVE OFFICER, HORIZON INVESTMENT SERVICES, HAMMOND, INDIANA

"It's a continuing reflection of investors wanting to be on the right side of the AI movement, and Nvidia is kind of the golden child for AI investment. The company is still putting up growth numbers. It clearly is the leader in that field, and it's a must-have if you want exposure to AI and generative AI and accelerated computing."

ART HOGAN, CHIEF MARKET STRATEGIST, B RILEY WEALTH, NEW YORK

"It is another milepost along the road in this amazing story of a company that continues to reinvent itself. It started out as being a gaming chip maker and then a crypto mining chip maker and now as a chipmaker for artificial intelligence computing power. It's a company that's had an amazing history over the course of the last five years and that certainly has accelerated into its market cap."

"So it is continuing to move forward and is a clear early winner of artificial intelligence. It doesn't look like it's running out of runway."

ROBERT PAVLIK, SENIOR PORTFOLIO MANAGER, DAKOTA WEALTH, NEW YORK

"It highlights the fact that Nvidia is sort of the backbone of artificial intelligence infrastructure and it is indicative of the revolution that's going on in technology. I believe that there's still more upside in the stock."

"Nvidia is going to continue to lead the AI infrastructure space. It highlights the fact that companies are shifting their asset spend in the direction of AI and it's pretty much the future of technology."