Nvidia shares closed at a record high, pushing the company’s market capitalisation past $5 trillion, as investor demand for artificial intelligence-related stocks continued to strengthen. The stock rose 4.3 per cent to close at $208.27, marking its first record close since October. Nvidia’s valuation has surged significantly in recent years, rising more than 14-fold since the end of 2022, driven by growing demand for AI infrastructure and computing power.
The rally was supported by strong momentum across the semiconductor sector, following better-than-expected earnings from Intel, which led to a sharp rise in chipmaker stocks. Intel shares surged 24 per cent, marking their strongest performance in decades.
Other semiconductor companies also recorded gains, with Advanced Micro Devices rising 14 per cent and Qualcomm climbing 11 per cent, reflecting broader investor interest in chip stocks.
Nvidia’s growth has been closely tied to demand from major technology companies, including cloud providers and AI developers that rely on its graphics processing units for advanced computing workloads.
Investor sentiment toward technology stocks has improved in recent sessions after earlier concerns linked to rising oil prices and supply chain disruptions. The Nasdaq index has gained 15 per cent in April, positioning it for its strongest monthly performance since 2020.
Despite its strong position, Nvidia faces increasing competition in the AI chip market. Several major technology companies are developing their own processors, which could challenge Nvidia’s dominance in the sector.
The latest gains highlight continued investor confidence in AI-driven growth, even as competition within the semiconductor industry intensifies.
