Business news live: UK economic activity revealed and Nvidia set record as world’s first $4tn company

Chip-maker Nvidia yesterday became the first company to surpass a $4 trillion valuation, with another recent share price surge seeing it beat Apple and Microsoft to the milestone.

Shares rose more than 2 per cent early on in Wednesday’s trading before dipping back soon after, as profit-taking ensued.

Matt Britzman, a senior equity analyst at Hargreaves Lansdown, labelled it a “historic” moment and suggested the stock could yet rise higher, given earnings valuations and market share dominance.

Good morning and welcome back to another day of business news on The Independent.

Coming up we’ve got stock market news, the latest on the wealth tax debate, UK economic data and more to come.