Nvidia shares hit record high as Wall Street shakes off anxiety about AI chip export controls

Core Viewpoint - Nvidia shares are set to close at an all-time high, reflecting strong investor confidence despite export restrictions to China [1][3]. Company Performance - Nvidia's stock rose 4% to nearly $154 per share, surpassing its previous all-time closing high of $149.43 [1]. - The stock has increased approximately 11% since the beginning of the year [1]. - The company's market capitalization reached $3.75 trillion, making it the world's most valuable company [2]. Market Context - Microsoft, a key customer of Nvidia, has a market cap of $3.65 trillion, followed by Apple at around $3 trillion [3]. - Despite concerns over export controls, Nvidia's overall demand for chips remains robust [4]. Financial Projections - Analysts expect Nvidia's revenue to surge by 53% to nearly $200 billion for the full year [5]. - Loop Capital analyst Ananda Baruah raised the price target for Nvidia stock to $250, which could elevate its market cap to $6 trillion [4][5]. Industry Position - Nvidia dominates the market for advanced computer chips essential for artificial intelligence applications [7]. - The company serves notable clients including Microsoft, OpenAI, xAI, and Meta [7].