Nvidia triggers rally in semiconductor stocks; ASM Tech, SPEL hit record-highs

Nvidia inched closer to $2 trillion market value after the bellwether for artificial intelligence (AI) chip demand once again exceeded Wall Street’s sky-high expectations, re-igniting a global rally in tech stocks. The chipmaker returned as the third most valuable US company as its shares jumped 15 per cent to a record high of $780 on Thursday, after it forecast a roughly three-fold surge in first-quarter revenue on strong demand for its AI chips.