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Nvidia‘s stock hit a record high on Wednesday, and the chipmaker reclaimed the crown as the world’s most valuable company after an analyst said the chipmaker was set to ride a “Golden Wave” of artificial intelligence.
Shares of the Santa Clara, California-based company rose over 4% to a record high of $154.10. The rise sent Nvidia’s stock market value to $3.76 trillion, overtaking Microsoft, which was last valued at $3.65 trillion following a 0.2% increase in its stock.
Fueling Nvidia’s latest rally, Loop Capital lifted its price target for the…
