Nvidia Corp experienced a significant surge of 24% in its stock value, resulting in one of the largest one-day gains for a US stock. This surge was driven by Nvidia's impressive revenue forecast, which highlighted the untapped potential of artificial intelligence (AI) that Wall Street had yet to fully recognize. As a result, Nvidia's market capitalization soared by approximately $184 billion, reaching nearly $939 billion. This makes Nvidia twice the size of Taiwan's TSMC, the second-largest chip firm. The positive earnings report also had a ripple effect, leading to a rally in the chip sector and AI-focused companies. Analysts promptly raised their price targets for Nvidia stock, acknowledging its dominant position in the AI chip market. The company's strong performance indicates that the generative AI boom could become a significant driver of growth and technological advancement.
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