Nvidia close to becoming first trillion-dollar chip firm after stellar forecast

For Nvidia Corp, the boom in generative artificial intelligence (AI) is everything, everywhere, all at once.

The chip designer’s shares extended their rally this year on Thursday, soaring about 28% after a stellar outlook showed that Wall Street has yet to price in the AI potential of the company that has already doubled in value in 2023.

Nvidia was on course to increase its market value by about $210 billion to nearly $970 billion. That would mark the largest one-day value gain for a US company, a record currently held by Apple Inc after the iPhone maker’s valuation rose by $190.90 billion on November 10.