The AI boom has turbocharged Nvidia’s fortunes. Can it hold its position?

Waves OF INNOVATION AIAI AI AIAIGPTAIAIoften create giants. Microsoft rode the upsurge in desktop computers, as Apple did with the smartphone. Artificial intelligence () may well be the next big , transforming the way businesses are run and society functions. If so, plenty of firms selling the software and hardware that underpin stand to gain. But none is better positioned than Nvidia, an American firm that makes specialist chips. Its market value briefly passed $1trn this week. Will sweep Nvidia to big tech-dom?The hype around makes the question hard to answer. Excitement about Nvidia began to mount in November, after the release of Chat, an . Since then all manner of firms have launched , adding to the fervour. Jensen Huang, Nvidia’s boss, is unsurprisingly bullish, talking of a “new computing era”. Investors seem just as jubilant. Nvidia’s share price has more than doubled since the start of the year.