Nvidia shares rose by 5%, driven by strong results announced by Intel, which had a positive impact on the entire AI chip sector.

$5 trillion

Nvidia’s market value jumped to around $5 trillion, making it one of the most volatile companies in terms of market capitalization during Friday’s session.

This surge is coming at a time when demand for AI chips is accelerating faster than supply, driven by data centers, cloud computing companies, and even governments purchasing in large quantities.

The company recorded revenues exceeding $215.9 billion, with profits of more than $120 billion, in a performance considered one of the strongest in the sector’s history, amid expectations for continued waves of spending on AI.

Nvidia steals the spotlight from Intel

Although Intel was celebrating a strong rebound after years of challenges that brought it back into competition, Nvidia’s rise stole the spotlight.

Intel’s first-quarter results showed strong demand for processors from AI companies, to the extent that it even sold chips that had previously been written off.

Intel’s stock rose by 24% to reach $83, lifting its market value to more than $416 billion, surpassing its peak during the 2000 internet bubble.

The rally wave extended to other chip companies as well, with AMD shares rising by 14%, and Arm climbing by more than 13%.

#WCTCTradingKingPK #CryptoMarketSeesVolatility $ETH $SOL