Nvidia stock rose Wednesday, pushing the AI powerhouse to a $4 trillion market valuation, the first company to do so.
Nvidia stock gained for a second day in a row, climbing more than 2% to 163. 35 in morning trades.
"This morning the Godfather of AI Jensen and Nvidia became the first member of the exclusive $4 trillion market cap club," Wedbush analyst Daniel Ives wrote in a client note, referring to Nvidia Chief Executive Jensen Juang.
"This is a historical moment for Nvidia, the tech space flexing its muscles, and speaks to the AI Revolution hitting its next stage of growth led by the one chip fueling AI...Nvidia," he added.
Nvidia shares have climbed steadily despite recent market uncertainty and the impact of the Trump Administration's trade policies.
A key reason is the ongoing push to build AI data centers. Last week, Mizuho Securities raised price targets for stocks tied to this buildout, including Nvidia.
Ives said he expects Microsoft, another AI leader, to join the $4 trillion club this summer.
