Nvidia rallies to record high as chipmaker announces AI-related components

(Reuters) - Shares of Nvidia surged to a record high close on Monday after the world's most valuable chipmaker unveiled new desktop graphics processors taking advantage of artificial intelligence.

Nvidia's stock climbed 6.4% to end at $522.53, its highest close ever, after the company announced the GeForce RTX 40 SUPER Series of graphics processors, aimed primarily at videogame enthusiasts.

Ahead of the Consumer Electronics Show in Las Vegas, Nvidia also announced other components and software related to AI.

Viewed as the leading supplier of processors used in AI computing, Nvidia's stock more than tripled in 2023.

Traders exchanged over $32 billion worth of Nvidia's shares during Monday's session, making it the most traded company on Wall Street, according to LSEG data. Nvidia's stock market value now stands at nearly $1.3 trillion.

The latest rally in Nvidia's stock helped propel the PHLX semiconductor index 3.3% higher.

(Reporting by Noel Randewich, Editing by Rosalba O'Brien)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Wall Street Turns Attention to Quantum Cybersecurity as AI Infrastructure Spending Accelerates
• Roku stock surges 20% on report of potential sale talks
• HSBC faces $400 million exposure to troubled IFFCO Group