Nvidia’s blowout forecast lights fire under AI stocks in $260-billion rally

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Nvidia is on the cusp of a $1 trillion market cap and has ignited a global jump in stocks linked to artificial intelligence. Read more

“We believe this is just the beginning of a paradigm-altering generative AI wave,” Barclays analyst Blayne Curtis wrote in a note. “So far, it seems that Nvidia is the one capturing nearly all the economics.”and other bots will usher in a new era of spending on the technology that underpins AI. Nvidia’s chips excel at parallel processing, making them well suited for training software by bombarding it with data.

While the jury is out on which AI service will eventually end up on top, many investors are betting that a splurge on research will drive the companies that provide components essential to AI development and hosting. In Europe, semiconductor equipment maker ASML jumped 5 per cent, while BE Semiconductor Industries nearly 8 per cent.

Investors were looking to the company for evidence that the surge in interest in AI this year is resulting in higher sales of chips that provide the computing power. The semiconductor maker delivered that with a revenue forecast for the current quarter that dwarfed the average analyst estimate.

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Nvidia’s blowout forecast lights fire under AI stocks in $260-billion rallyNvidia is on the cusp of a $1 trillion market cap and has ignited a global jump in stocks linked to artificial intelligence. Read more
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