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 and other companies benefiting from the boom in artificial intelligence have been a major reason the S&P 500 has recently climbed to a record.

The AI Titan’s Ascent Nvidia (NASDAQ:NVDA) has evolved from a niche graphics chip maker to a global technology titan, driven by its dominance in artificial intelligence (AI) and accelerated computing.

Nvidia reached a market capitalization of $4 trillion for the first time on Wednesday, solidifying its position as one of Wall Street’s most-favored stocks to tap in the ongoing