Nvidia becomes first chipmaker valued at more than $1tn amid AI boom

[Google News Bot]

Shares in chip company soar amid hopes of rising demand from artificial intelligence applicationsUS chipmaker Nvidia reached a $1tn valuation on Tuesday morning as investors continue to rally around the company, which produces chips used to power artificial intelligence technology.Shares in the company started to jump on 24 May after it announced second-quarter revenue forecasts that were more than 50% higher than investors’ expectations. Nvidia’s share price rose over 25%, and its market value climbed to $940bn by the end of the next day. Continue reading... ...

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