Nvidia gains $200bn in value after it predicts AI-driven boom in chip demand

Source: theguardian.com theguardian.com

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The value of the US tech company Nvidia has soared by almost a quarter after it predicted a boom in demand for its computer chips to meet the needs of artificial intelligence products such as ChatGPT. Nvidia’s share price rose by 24% in after-hours trading on the back of the announcement, and put it on course for a market valuation well over $900bn (£730bn) when stock markets open on Wall Street on Thursday, up from $755bn on Wednesday evening. The share price had already more than doubled over the course of 2023, amid huge optimism over the rapid progress of...