(Bloomberg) — Nvidia Corp. may be poised for a record one-day jump in value for a US company after it raised its outlook on voracious demand for chips used in artificial intelligence applications.
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The world’s largest semiconductor maker by market capitalization soared as much as 29% in post-market trading Wednesday on the forecast. If the gain holds, its value would rise by $219 billion to an all-time high of $974 billion.
Nvidia Soars After AI-Fueled Forecast Shatters Expectations
That would trump Apple Inc.’s $191 billion one-day pop in November and a slightly smaller surge in Amazon.com Inc. in February 2022. But even with the AI frenzy that has seen Nvidia shares more than double this year, the chipmaker has yet to join Apple and Amazon in the $1 trillion club.
And while its latest jump tops the US chart, it still ranks at least No. 2 globally. PetroChina Co. added nearly $600 billion in its first-day of trading in Shanghai in November 2007.
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