Nvidia Corp., the world’s most valuable chipmaker, experienced a significant surge in late trading as its sales forecast, fueled by booming demand for artificial intelligence (AI) processors, exceeded expectations. The company announced that sales in the three months ending in July are projected to reach approximately $11 billion, far surpassing the average analyst estimate of $7.18 billion. This news caused Nvidia’s shares to soar by as much as 29%, putting them on track to reach a record high.

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