Nvidia's Market Cap Hit $4 Trillion for the First Time Today

Nvidia did it.

The chip giant on Wednesday morning became the first company to see its market capitalization touch $4 trillion, rising above that level when its shares reached $163.93 in early trading. (Market cap markers are sometimes considered “official” only if the shares close above the needed level.)

The stock, which rose above $164 during the session, finished up 1.8% to $162.88, back below the “magic number” touched earlier, but nevertheless a record close.

Today marked the latest milestone for one of the biggest stock stories of recent years. Nvidia (NVDA) and its shares have effectively become the poster children for the AI boom, with the stock being one of its main beneficiaries. The company, which first hit the public markets in 1999, saw its market value hit both $2 trillion and then $3 trillion last year after first reaching $1 trillion in 2023.

Wall Street generally believes Nvidia’s shares can keep rising. The mean price target as tracked by Visible Alpha is currently $174, with the range running from $200 to $145; nearly all of the analysts the service follows have “buy” ratings on Nvidia.

Two other big tech companies—Microsoft (MSFT) and Apple (AAPL)—have market caps above $3 trillion. Read Investopedia’s full coverage of today’s trading here. (You can read our definition of what market cap is and how to calculate it yourself here.)

“We believe Microsoft will also hit the $4 trillion market cap club this summer and then over the next 18 months the focus will be on the $5 trillion club,” Wedbush analyst Dan Ives wrote Wednesday. “This tech bull market is still early being led by the AI Revolution.”

Shares of Nvidia have risen more than 20% in the past 12 months and more than 1,400% in the past 5 years.

This article has been updated since it was first published to include additional information and reflect more recent share price values.