Nvidia becomes first chipmaker valued at more than $1tn amid AI boom

Shares in chip company rise on back of hopes for rising demand from artificial intelligence applications

Nvidia has become the first chipmaker to reach a $1tn valuation after its shares soared further on Tuesday on the back of an anticipated boom in demand for its products to meet the needs of artificial intelligence.

Shares in the gaming and AI chip company rose 4.2% in early trading on Tuesday to pass the key milestone.

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