In AI 'gold rush,' Nvidia is 'selling the shovels' -analyst

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Updated 25 May 2023 at 3:41 pm

STORY: Shares of Nvidia soared about 26% on Thursday taking it closer to a market value of $1 trillion after its stellar revenue forecast showed that Wall Street has yet to price in the game-changing potential of AI.

The surge added to a more than two-fold rise in the stock this year and was set to increase the chip designer's value by about $196 billion to nearly $951 billion, putting Nvidia on course for the largest single-day value gain for a U.S. firm.

Lynch called Nvidia an "unbelievably well positioned chipmaker."

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