Nvidia, Alphabet lead market cap surge in March driven by AI enthusiasm

Nvidia Corp and Alphabet Inc saw the biggest jump in their market capitalisation in March, driven by artificial intelligence (AI) enthusiasm and anticipation for new products and expansion plans.

Nvidia’s market cap soared to $2.25 trillion at March-end, up 14% from February, while Alphabet’s rose 9% to $1.8 trillion.

Nvidia’s shares saw an upswing last month as the company announced its latest flagship AI processor is slated for release later this year, while Alphabet’s shares got a lift from reports of Apple’s interest in integrating Google’s Gemini AI engine into the iPhone.