Nvidia (NASDAQ:NVDA) experienced a remarkable surge in its stock price on Wednesday, climbing as much as 5% and reaching a record high.
This spike pushed Nvidia's market valuation above $3 trillion, making it only the third company to achieve this milestone, joining the ranks of Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT).
During the day's trading, Nvidia momentarily surpassed Apple to become the second-most valuable company in the US stock market, although Microsoft continues to hold the top position.
Nvidia has become a central figure in the recent surge of investor enthusiasm for artificial intelligence, particularly following the release of OpenAI's ChatGPT in late 2022.
The company's stock has soared more than 140% this year alone and 200% over the past twelve months, culminating in an impressive 3,300% gain over the last five years.