Nvidia races towards $1tn club as AI frenzy drives chip stocks higher/
Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of and . Email to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found there. Nvidia’s blowout sales forecast has set the Silicon Valley company on course to become the first chipmaker to be valued at more than $1tn, as booming demand for its artificial intelligence processors drove semiconductor stocks higher on Thursday. Shares in Nvidia rose 23 per cent on Thursday morning in New York after its $11bn sales forecast for the three months ending in July came in more than 50 per cent ahead of Wall Street’s previous estimates. Nvidia added some $170bn to its market value following Wednesday’s quarterly report, more than the entire value of Intel or Qualcomm and the biggest one-day gain ever for a US stock, according to figures from Bloomberg. W...