Walmart Tops $1 Trillion as Tech, Frugal Shoppers Fuel Gains (1)

A rally in Walmart Inc. shares pushed its market capitalization past $1 trillion on Tuesday for the first time ever, vaulting the world’s largest retailer into a category typically occupied by Big Tech firms such as Nvidia Corp. and Alphabet Inc.

The stock rose 2.9% to close at an all-time high of $127.71 per share. The jump added roughly $29.1 billion in value, giving the company a market capitalization of just above $1 trillion, according to data compiled by Bloomberg. The shares are up 15% this year, outpacing the S&P 500 Index’s 1.1% advance.

The Bentonville, Arkansas-based chain — a longtime favorite of ...