NVidia rose more than 5 percent to surpass the company's market capitalization of $3 trillion for the first time in its history, supported by strong expectations about the next generation of artificial intelligence chips. NVidia was also able to surpass Apple to become the second-largest company in the world after Microsoft.
The gains came after Bank of America announced that NVidia’s stock could rise another 30 percent due to its "multi-year advance" in AI chips.
Intel rose 2.5 percent, its highest gain in more than two months. The rise was due to acquisition firm Apollo Global Management agreeing to buy a 49 percent stake in the shares for $11 billion in a joint venture involving the chipmaker's Irish manufacturing unit.
Source (CNBC Arabia Website, Edited)
