Nvidia has become the first chipmaker to hit a $1tn valuation, leading a surge of enthusiasm across Wall Street for companies seen to benefit from the latest developments in artificial intelligence.
Its shares rose more than 4 per cent to hit $406.1 in early trading in New York on Tuesday, after its chief executive Jensen Huang launched a new supercomputer and struck new AI alliances with companies including WPP and SoftBank on Monday.
Those moves built fresh momentum after Nvidia impressed investors and analysts last week, projecting its sales would rise to $11bn in the three months ending in July, exceeding Wall Street’s previous forecasts by more than 50 per cent.
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