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.

Shares of Nvidia ended up 0.75% at $164.10, giving it a market value of $4.004 trillion as it benefits from an ongoing surge in demand for artificial-intelligence technologies. Nvidia's stock market value briefly peaked above $4 trillion on Wednesday before closing at about $3.

Nvidia becomes first $4 trillion company at market close. Its stock has increased more than 870 percent since ChatGPT was released in late 2022.