Nvidia Eyes the $1 Trillion Club as AI Outlook Sparks Rally

Wall Street analysts blown away by Nvidia’s sales forecast
One-day market value gain among the biggest in US history

WATCH: Nvidia gave a bullish revenue forecast for the current quarter. Bloomberg Intelligence’s Mandeep Singh has more.Source: Bloomberg

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By Kurt Schussler and Henry Ren

May 25, 2023 at 4:58 AM UTC

Updated on

May 25, 2023 at 1:51 PM UTC

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Nvidia Corp. is within touching distance of $1 trillion market value — poised to become only the ninth firm ever to hit that milestone — as the artificial intelligence frenzy boosts demand for processors that can accelerate computing.

Shares in the Santa Clara, California-based firm soared as much as 26% after its raised sales forecast smashed expectations. The chipmaker’s market value rose by $199 billion at one point to a record $955 billion, before paring gains.