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Global stock markets rallied Thursday as investors cheered bumper profits from US chip giant Nvidia, seen as the bellwether for artificial intelligence, with records falling in Asia, Europe, and North America.
Nvidia’s revenues during the fourth quarter of 2023 topped $22 billion, an over 250% surge compared to the previous year. Previously too, analysts at Goldman Sachs pegged it as “the most important stock on planet Earth”, given its hold over 80% of the AI chip market.
Nvidia's market capitalization nearing $1.9 trillion has exceeded the combined market capitalization of all 30 companies listed on the Sensex.
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