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The global stock rally powered ahead as Nvidia Corp.’s bullish outlook rekindled the artificial-intelligence mania and data showed the world’s largest economy is still going strong.
From the USBloomberg Terminal to Europe and Japan, equities hit all-time highs, with the most-valuable chipmaker up 16% — adding $277 billion to its market capitalization. That’s the biggest single-session increase in value ever — eclipsing a $197 billion gain made by Meta Platforms Inc. With the numbers now in, bulls are calculating Nvidia’s new price-to-earnings ratio, or how much investors are paying for future growth. Put another way, the firm’s profits have been growing faster than its shares.
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This article was originally published by a www.bloomberg.com . Read the Original article here.
