Nvidia Corp., the world's most valuable chipmaker, is on the verge of completing a 10-day winning streak, marking its longest run of advances since the record-setting performance in December 2016. The Santa Clara-based company has seen a remarkable climb of approximately 20 per cent during this streak, translating to a staggering addition of about $200 billion in market value, according to data compiled by Bloomberg. &nbsp;

This surge occurs amid intense competition as rivals strive to devise alternatives to challenge Nvidia's stronghold in artificial intelligence (AI).&nbsp;

Nvidia's shares have experienced an exceptional rally, surging over 230 per cent this year, solidifying its position as the best-performing component on both the Nasdaq 100 and S&amp;P 500 indexes. The AI-driven frenzy has significantly contributed to this stellar performance, with the latest surge coinciding with a broader rebound in technology stocks. The resurgence in the tech sector is fuelled by optimistic sentiments surrounding the Federal Reserve's indications that interest rates may have reached their peak.&nbsp;

Highlighting Nvidia's commitment to innovation, the company announced the release of its updated chip, the H200, designed to incorporate high-bandwidth memory, known as HBM3e. This enhancement aims to enhance the chip's capacity to handle substantial datasets crucial for AI development and implementation. Blomberg cited Analyst Chris Caso from Wolfe Research, who notes, "NVDA has not refreshed prior datacentre GPUs in the past," emphasising that this update signifies Nvidia's acceleration in response to the growth and performance demands of the AI market.&nbsp;

Bloomberg Intelligence analyst Kunjan Sobhani underscored the significance of Nvidia's swift product-launch pace with the H200 in mid-2024. Sobhani noted that this strategy is poised to "help defend its turf," positioning the new AI processor with high-bandwidth memory as a potential market leader. &nbsp;

Despite facing challenges last month due to new US rules restricting the sale of cutting-edge chips to China, Nvidia has shown resilience and is scheduled to report earnings on November 21.&nbsp;

(With inputs from Bloomberg)&nbsp;

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Nvidia Corp., the world's most valuable chipmaker, is on the verge of completing a 10-day winning streak, marking its longest run of advances since the record-setting performance in December 2016.

Nvidia Corp., the world's most valuable chipmaker, is on the verge of completing a 10-day winning streak, marking its longest run of advances since the record-setting performance in December 2016. The Santa Clara-based company has seen a remarkable climb of approximately 20 per cent during this streak, translating to a staggering addition of about $200 billion in market value, according to data compiled by Bloomberg. This surge occurs amid intense competition as rivals strive to devise alternatives to challenge Nvidia's stronghold in artificial intelligence (AI). Nvidia's shares have experienced an exceptional rally, surging over 230 per cent this year, solidifying its position as the best-performing component on both the Nasdaq 100 and S&P 500 indexes. The AI-driven frenzy has significantly contributed to this stellar performance, with the latest surge coinciding with a broader rebound in technology stocks. The resurgence in the tech sector is fuelled by optimistic sentiments surrounding the Federal Reserve's indications that interest rates may have reached their peak. Highlighting Nvidia's commitment to innovation, the company announced the release of its updated chip, the H200, designed to incorporate high-bandwidth memory, known as HBM3e. This enhancement aims to enhance the chip's capacity to handle substantial datasets crucial for AI development and implementation. Blomberg cited Analyst Chris Caso from Wolfe Research, who notes, "NVDA has not refreshed prior datacentre GPUs in the past," emphasising that this update signifies Nvidia's acceleration in response to the growth and performance demands of the AI market. Bloomberg Intelligence analyst Kunjan Sobhani underscored the significance of Nvidia's swift product-launch pace with the H200 in mid-2024. Sobhani noted that this strategy is poised to "help defend its turf," positioning the new AI processor with high-bandwidth memory as a potential market leader. Despite facing challenges last month due to new US rules restricting the sale of cutting-edge chips to China, Nvidia has shown resilience and is scheduled to report earnings on November 21. (With inputs from Bloomberg) WATCH WION LIVE HERE

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