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.

Nvidia notched a market capitalization of $4 trillion on Wednesday, making it the first public company in the world to reach the milestone and solidifying its position as one of Wall Street's most-favored stocks.