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Nvidia hits $3T market cap on back of AI boom

Nvidia surpassed $3 trillion in market cap during intraday trading on Wednesday as investors continue to clamor for the company making most of the chips powering the AI boom.

Nvidia also beat Wall Street expectations for sales and earnings and said it would report revenue of about $28 billion in the current quarter. Nvidia surge in recent years has been powered by the tech industry's need for its chips, which are used to develop and deploy big AI models like the one at the heart of OpenAI's ChatGPT. Nvidia surpassed $3 trillion in market cap during intraday trading on Wednesday as investors continue to clamor for the company making most of the chips powering the AI boom.

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