Andrew Kessel
2 min read
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Nvidia shares climbed over 4% to an all-time high Wednesday.
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The move helped the chipmaker reclaim the title of most valuable company by market value.
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Nvidia CEO Jensen Huang reportedly said at the company's annual shareholder meeting Wednesday that he believes there are “many growth opportunities across our company, with AI and robotics the two largest."
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Bank of America analysts told clients Tuesday they believe Nvidia "remains the undisputed leader in performance" among semiconductor firms as the AI market accelerates.
Nvidia (NVDA) shares climbed to an all-time high Wednesday, helping the chipmaker reclaim the title of most valuable company by market value.
The chipmaker’s stock rose over 4% to close at $154.31, topping January's record. The gains pushed Nvidia’s market capitalization to nearly $3.77 trillion, surpassing Microsoft's (MSFT) at $3.66 trillion.
Nvidia CEO Jensen Huang reportedly said at the company's annual shareholder meeting Wednesday that he believes there are “many growth opportunities across our company, with AI and robotics the two largest, representing a multitrillion-dollar growth opportunity."
Bank of America analysts told clients Tuesday they believe Nvidia "remains the undisputed leader in performance" among semiconductor firms as the AI market accelerates. The bank expects the AI market to reach $1 trillion by 2030, with Nvidia a "key beneficiary."
One facet of Nvidia’s market opportunity is in growing sovereign AI demand, with BofA expecting “every major country” to invest in sovereign AI, “generating high-tech employment, and serving critical healthcare, defense, industrial, financial and cyber needs.”
Earlier this month, Huang announced multiple sovereign AI partnerships during a European tour. Oppenheimer analysts recently estimated the global sovereign AI market could reach $1.5 trillion, including $120 billion in Europe.
This article has been updated since it was first published to include additional information and reflect more recent share price values.
Read the original article on Investopedia
