Nvidia hit a market value of $3.92 trillion on Thursday, briefly putting it on track to become the most valuable company in history, as Wall Street doubled down on optimism about AI. Shares of the leading designer of high-end AI chips rose as much as 2.

The value of the leading chip designer temporarily hit a new record on Thursday, briefly making it the most valuable company in history, with a market capitalisation nearing $4 trillion. Analysts predict it will soon break the record again.

Nvidia is close to becoming the most valuable company in the world, with its market value reaching around $3.92 trillion. The company’s stock has surged at light speed over the past few years, driven by high demand for its advanced AI chips,