The leading designer of high-end AI chips briefly beat Apple's previous record of being the most valuable company in history, when it touched a market cap of $3.915 trillion.

Nvidia has ascended to become the world's most valuable company, surpassing tech giants Apple and Microsoft with a market capitalisation of $3.92 trillion.

Nvidia was on track to become the most valuable company in history on Thursday, with the chipmaker's market capitalization reaching $3.92 trillion as Wall Street doubled down on optimism about AI. Shares of the leading designer of high-end AI chips were up 2.