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 became the first company to touch US$4 trillion in market value, a new milestone in Wall Street's bet that artificial intelligence will transform the economy.

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.