Nvidia's market cap now exceeds the combined value of the Canadian and Mexican stock markets. It is also larger than the total market capitalisation of all publicly listed companies in the UK, according to LSEG data.

Nvidia and other companies benefiting from the AI boom have been a major reason the S&P 500 has climbed to record after record recently.

US chipmaker Nvidia has become the first company in history to surpass a $4 trillion market valuation, cementing its status as the world’s most valuable firm. Nvidia shares climbed as much as 2.