Nvidia and AMD Stock Up as AI Boosts Chip Demand

Nvidia released its latest quarterly financial data after markets closed on Wednesday evening. The first paragraph of the press release doesn't sound particularly inspiring, as it mentions typical ups and downs of revenue trends. However, Nvidia's stocks have generated incredible interest overnight and, at the time of writing this article, have risen almost 30% in their pre-market value. In fact, it seems Nvidia is on track to become the leading semiconductor chip manufacturer with a market cap of $1 trillion.

The reason for Nvidia's surge has little or nothing to do with the graphics cards for gaming that are so popular among PC enthusiasts and gamers. Instead, the rocket fuel here is the perceived central role of Nvidia in accelerating the AI revolution.

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