Why are AI chip stocks soaring? Is the rally sustainable?

TheStar Fri, Jun 02, 2023 12:00am - 10 months View Original

In the limelight: The Nvidia headquarters in California. AI chips and the company are now at the centre of what some experts consider an AI revolution that could reshape the technology sector. — AP

SINGAPORE: Chipmaker Nvidia briefly touched a stock market valuation of US$1 trillion (RM4.6 trillion) on Tuesday, making it the first chipmaker to hit that major milestone.

The shares began trading at around US$397 (RM1,831) apiece on Wednesday, giving it a market valuation of US$988.7bil (RM4.56 trillion).

Fewer than 10 stocks have ever topped the US$1 trillion threshold, and with Nvidia’s milestone, it joins Alphabet and Amazon.com among US companies currently trading above this level.

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