Nvidia Valuation Soars Past Intel on Graphics Chip Boom
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Nvidia Corp.’s market valuation topped Intel Corp.’s for the first time, powered by soaring demand for graphics chips in data centers and other fast-growing technology fields.
Nvidia gained 2.4% on Wednesday, giving it a market value of more than $248 billion. Shares of the graphics chipmaker are up 72% so far this year as investors bet the coronavirus pandemic has accelerated a shift to cloud-based digital services that use its technology. Intel shares have fallen 2% in 2020.