Nvidia gains $370 billion as AI chip demand drives 7% stock surge

Nvidia, the world's most valuable listed company, saw its shares surge over 7% in overnight trading, adding roughly $370 billion to its market value in a single day. This follows its latest earnings report and signals continued strong demand for its AI chips. The chipmaker's quarterly revenue more than doubled year-on-year to $96.2 billion, but it was the company's robust future sales guidance and pipeline that fueled the post-earnings buying spree. The stock is set to open above $225, up from its Wednesday close of $209.66, with CEO Jensen Huang addressing concerns about its financing model. This gain exceeds the entire market cap of HSBC, London's largest firm, and could boost the broader AI trade after a volatile period. While management highlighted a roughly $2 trillion backlog and strong durability, some analysts caution that not all investors are fully convinced of the long-term AI growth story.