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Nvidia dethrones Apple as the most valuable company

Nvidia stock jumped as much as 3% on Friday to an intra-day high of $144.13, catapulting its market valuation to $3.53 trillion.

Since then, shares of Nvidia, which supplies the technology world with AI-enabling GPU chips, have added $3.1 trillion to their market valuation, with their stock price soaring more than 740%. Bank of America analysts raised their Nvidia price target to $190 last week, citing strong upside and a"generational opportunity" as it grows its lead in the AI space. Meanwhile, CFRA Research analyst Angelo Zino bumped his price target to $160 as an "AI war" takes place among the major cloud companies.

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