Nvidia has rebuilt the optimism around its stock, which was dented earlier this year when a breakthrough by China’s DeepSeek led to concerns about the durability of Nvidia’s dominant position in the global AI infrastructure market. That event wiped nearly $600bn from the company’s market value.

Nvidia shares rose to an all-time high on Wednesday, with the leader in artificial intelligence (AI) chips extending an advance that has cemented its position as one of the most valuable companies in the world.

Nvidia is now worth $3.77 trillion, making it the largest company in the world by market cap, slightly beating out Microsoft, one of its main customers. Apple is third at about $3 trillion.