Nvidia’s results spark nearly $300 billion rally in AI stocks

Chipmaker Nvidia is ramping up production of its artificial intelligence (AI) chips to match strong demand, sending its stock up by 28% in after-hours trading. The increase added almost $300bn in market capitalisation, boosting Nvidia’s stock market value to more than $960bn. The demand has also lifted the shares of Microsoft, Google, Advanced Micro Devices, C3.ai and Palantir Technologies. The surge follows NVIDIA’s strong first-quarter results with second-quarter revenue forecasts over 50% more than Wall Street expectations.