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Nvidia soars after marking AI demand, eyeing $1 trillion value


(Bloomberg) – Shares of Nvidia Corp. spiked 24% after the semiconductor maker’s sales forecast beat expectations, bringing it closer to a $1 trillion market value.

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If premarket profits were kept unchanged, Nvidia’s value would increase by $181 billion to an all-time high of $936 billion. The company raised its outlook based on strong demand for chips used in artificial intelligence applications.

“What can we say other than amazement,” said Evercore ISI analyst CJ Muse. “The obvious drivers here are accelerated computing and AI, but the extent of rhythm in a supply-constrained context is astounding.”

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The increase in market value would be among the largest in US history. Apple Inc.’s $191 billion one-day growth. in November, and Amazon.com Inc.’s slightly smaller gains. in February 2022 topped the record books.

–With support from Henry Ren.

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