AI boom drives trillion-dollar tech valuations and record bets on chipmakers

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Top technology companies hit fresh valuation milestones in October, as their shares climbed on expectations of robust demand for AI chips and computing infrastructure driven by the artificial intelligence boom.

Nvidia‘s shares jumped nearly 11% over the past month, adding about $500 billion in market value as it became the first company to reach a $5 trillion valuation. Chief executive Jensen Huang this week announced $500 billion in AI chip orders and plans to build seven supercomputers for the US government.

Tech shares have risen sharply on…



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AI boom drives trillion-dollar tech valuations and record bets on chipmakers



Top technology companies hit fresh valuation milestones in October, as their shares climbed on expectations of robust demand for AI chips and computing infrastructure driven by the artificial intelligence boom.

Nvidia‘s shares jumped nearly 11% over the past month, adding about $500 billion in market value as it became the first company to reach a $5 trillion valuation. Chief executive Jensen Huang this week announced $500 billion in AI chip orders and plans to build seven supercomputers for the US government.

Tech shares have risen sharply on…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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