The report states, “Nvidia has become the first company to hit a $4tn market capitalisation, on the back of a rapid rebound for Wall Street technology stocks in recent months.” Shares of the company rose as much as 2.8% on Wednesday, peaking at $164.42. It eventually closed 1.8% higher, with a valuation just shy of the milestone at $3.97 trillion.

Nvidia currently has the highest market cap of $3.98 trillion. Founded by Jensen Huang, Chris Malachowsky, and Curtis Priem in 1993, the company first focused on producing multimedia processors and graphics chips. Its graphic processing units (GPUs) improved the look and feel of gaming and transformed video editing.