Nvidia shares hit a record high on Wednesday, marking a turnaround for the chip company following a rocky start to the year marked by US-China tensions over critical artificial intelligence technology.
The US chip designer’s shares rose 4.3 per cent, putting Nvidia decisively ahead of Microsoft as the world’s most valuable company, with a $3.77tn market capitalisation compared with Microsoft’s $3.66tn.
The rally came as Nvidia chief executive Jensen Huang gave a bullish outlook at the company’s annual shareholder meeting on Wednesday about its ability to continue its explosive growth over the next decade. He cited the “multitrillion-dollar opportunity” of AI and robotics.
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