Jensen Huang’s company is benefiting from the ongoing surge in demand for artificial intelligence technologies.

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.

The chip maker’s stock touched an intraday level needed to achieve a $4 trillion market cap, and set a new peak closing market-cap record