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Nvidia stock surges to highest ever as AI boom rolls on

The computer chip maker has become the essential provider of GPUs -- hardware that is needed to train AI models

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Updated August 23, 2023 at 5:13 p.m. EDT|Published August 23, 2023 at 5:02 p.m. EDT
A Nvidia logo. (Ann Wang/Reuters)
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SAN FRANCISCO — Artificial intelligence chip company Nvidia’s stock shot up after it reported second quarter revenue came in higher than analysts expected — signs the AI boom is far from slowing down.

The company’s stock gained nearly 8 percent in aftermarket trading, pushing its stock price to $508.50, its highest ever. The jump comes after the company’s shares already tripled this year, making Nvidia the world’s sixth-most valuable public company, behind only Big Tech stalwarts and Saudi Arabia’s state oil producer.