Nvidia becomes world's first $4tn company

Nvidia has become the first company in the world to reach a market value of $4tn, BBC reported.

Shares in the chip-maker rose by as much as 2.4% to $164 on Wednesday, as the company continues to benefit from the ongoing surge in demand for the tech that powers artificial intelligence (AI).

The US-based company reached a market value of $1tn for the first time in June 2023, and has continued to climb rapidly since.

Tech analyst Dan Ives, of Wedbush Securities, said in a note that was in a historic moment for Nvidia.

"They are the only game in town with their chips the new gold and oil," he wrote, according to BBC.