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

The chip giant on Wednesday morning became the first company to see its market capitalization touch $4 trillion intraday, rising above that level when its shares reached $163.93 in early trading.

Nvidia reached another milestone in its rise to becoming one of the world’s most important companies: the first publicly traded company to reach a market value of $4 trillion.

Nvidia has rebounded about 74% from its lows in April, when global markets were jolted from U.S. President Donald Trump's tariff volley.

Wall Street indexes closed higher on Wednesday after Federal Reserve meeting minutes fueled hopes that inflation pressures from President Donald Trump's tariffs would not derail interest rate cuts this year and the tech-heavy Nasdaq led gains as Nvidia briefly reached a $4 trillion valuation.