Nvidia stock surges 10% as revenue forecast tops estimates

Nvidia on Wednesday forecast a 265% surge in quarterly revenue that handily beat estimates as the company banked on towering demand for its industry-leading artificial-intelligence chips, sending its shares up 10% after-hours.

The late-day jump in the stock of the Santa Clara, California, company lifted its market capitalization by more than $80 billion to $1.75 trillion.