Nvidia on Wednesday briefly hit $4 trillion in market value, making it the first publicly traded company to hit that milestone. Nvidia stock rose 2.76% after the market opened on Wednesday to hit an intraday record high that pushed its market value above the $4 trillion mark.

Nvidia Corp. became the first U.S. company to ever reach a $4 trillion intraday market capitalization on Wednesday, but its shares pulled back slightly from the required threshold and finished the trading day just below the mark.

Silicon Valley chipmaker Nvidia on Wednesday became the first publicly traded company to surpass a $4 trillion market valuation, putting the latest exclamation point on the investor frenzy surrounding an artificial intelligence boom powered by its industry-leading processors.