Wall Street’s AI obsession pushes Nvidia valuation past $1 trillion mark

The stock continued to gain Tuesday after announcing several new artificial intelligence-related products

Jensen Huang, Nvidia president, has a willingness to take risks that other rule-by-committee businesses dare not

Nvidia became the world’s first chipmaker with a $1 trillion market capitalization, joining the ranks of just five American companies with valuations that high.

The stock rose 4.3 per cent in New York trading on Tuesday, gaining a market cap of $1.02 trillion and joining the likes of Alphabet, Amazon, Apple and Microsoft in trillion-dollar valuations. Fewer than 10 companies globally have ever achieved this level.

No other company embodies Wall Street’s current obsession with ...