The boom in the popularity of artificial intelligence has led to a 60% increase in NVIDIA’s value

NVIDIA has benefited from the growing interest in artificial intelligence this year. The company’s shares rose by 13% to $ 582 billion on Thursday. Over the day, the company’s market value increased by about $ 65 billion, and the increase since the beginning of this year was about 63%, or about $ 219 billion. If the trend continues, analysts believe that NVIDIA shares will grow by almost 60% this year.

According to Bloomberg, NVIDIA shares are now much more attractive to investors than any other technology stocks today. Expectations of further growth in NVIDIA shares are driven by the hope that chatbots will require more computing power as they respond to requests from millions of users.

NVIDIA dominates the market for graphics chips designed for complex computing tasks required for AI applications. NVIDIA’s fourth-quarter results exceeded all expectations, moreover, more than 20 analysts are confident in continued growth, and Goldman Sachs recommends NVIDIA shares for purchase.

NVIDIA, which announced on Wednesday the launch of its own cloud-based AI service, said it is teaming up with Oracle, Microsoft, and Google to leverage the computing power of its AI accelerators.

«When you have the 'next big thing' in technology, it’s natural for investors to try their best to find ways to get in on the action,» said Russ Mould, Chief Investment Officer at AJ Bell. — «NVIDIA's involvement in artificial intelligence now puts it in the spotlight among tech companies, which means demand for the stock could be strong for a long time to come.

AI quickly became a buzzword in the tech world after OpenAI’s ChatGPT chatbot became publicly available. Now, a huge number of investors want to join the success of tech giants such as Microsoft and Alphabet, which have announced their AI projects in recent weeks.