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.

Nvidia’s climb also made the chip maker briefly the world’s first company with a market value of $4 trillion. Wednesday’s milestone came barely two years after the Santa Clara, Calif.-based company, led by Chief Executive Jensen Huang, notched a $1 trillion closing valuation for the first time.