Nvidia reclinched its title as the world's most valuable company for a second time this month. The AI chipmaker's shares rose more than 4% on Wednesday, closing at a record high for the first time since January, following CEO Jensen Huang's remarks at Nvidia's annual investor meeting.

Nvidia (NASDAQ:NVDA) stock price touched a record high of $154.97 on Wednesday, closing at $154.31 and bagging a gain of ~4.33% during the session. CEO Jensen Huang's comments on growth areas for the company at its annual meeting boosted investor confidence.

Nvidia stock price closed 4.33% higher at $154.31 apiece, lifting Nvidia’s market capitalisation to approximately $3.77 trillion. The chipmaker overtook Microsoft Corp., which ended the session with a valuation of $3.