Nvidia shares soar nearly 30% as sales forecast jumps and AI booms

Nvidia Corp has forecast its Q2 revenue to be more than 50% above expectations, crediting strong demand for its AI chips, which are used to power chatbots, among other services. The announcement sent shares in the listed semiconductor company, which is worth over $950bn, soaring 28%. The new popularity of AI platforms led CEO Jensen Huang to disclose that Nvidia began full production of its latest AI chips in last August, enabling it to partially avoid chip shortages for apps like chatbots; full production supplies absorbed the steep new demand seen in January.