Nvidia Set to Become First $6.5 Trillion Company
Wall Street analysts are overwhelmingly bullish on the firm's future prospects.
Nvidia is on track to become the first US$5 trillion (S$6.5 trillion) company as chief executive Jensen Huang's spree of deals propels the artificial intelligence frenzy to new heights.
The shares rallied 3.5 per cent to US$208.05 each in premarket trading, indicating that Nvidia will cross the milestone when the regular session begins.
It has only been four months since the company cracked the US$4 trillion barrier, and the rally has accelerated as Mr Huang forges new agreements to supply companies from Nokia Oyj to Samsung Electronics and Hyundai Motor Group with chips.
Mr Jensen Huang had announced a flurry of new partnerships and dismissed concerns about an AI bubble on Oct 27.
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Author's summary: Nvidia nears $6.5 trillion valuation.