Nvidia just entered the stock market hall of fame.
The AI chipmaker became the first-ever company to hit a $4 trillion market cap on Tuesday as investors shrugged off volatility stemming from President Donald Trump's tariffs and fueled a fresh rally in shares of the tech titan.
Nvidia, which reclaimed its spot as the world's most valuable company in June, saw its shares climb more almost 3% on Wednesday to an intraday high of $164.42.
The stock is up 22% year-to-date.
Nvidia remains a key poster child of the market's "AI Revolution," according to Wedbush Securities analyst Dan Ives.
"This morning the Godfather of AI Jensen and Nvidia became the first member of the exclusive $4 trillion market cap club. This is a historical moment for Nvidia," Ives wrote in a note to clients on Wednesday.
Wednesday's rise marks a milestone in the stunning rally in the stock since the debut of ChatGPT kicked off the AI boom in November 2022. Shares are up 871.7% since, and the appetite for AI on Wall Street appears as insatiable as ever.
"The start of this $2 trillion of AI spending all began with the launch of ChatGPT at the end of 2022 and built out by Godfather of AI Jensen and Nvidia as they are the only game in town with their chips the new gold and oil," Ives added.
The stock has been on a roller coaster ride in 2025 amid the turmoil stemming from Trump's tariffs and concerns about DeepSeek, the Chinese AI startup that created a chatbot using inferior Nvidia chips.
The stock dropped as much as 31% from the start of the year through April amid selling pressure stemming from the tariff turmoil that rocked markets in the spring.