Nvidia shares rebound over 24% in April, hit record highs on AI optimism ahead of earnings

Shares of chipmaking giant and ‘Magnificent Seven’ darling Nvidia have staged a strong comeback in April, breaking multiple record highs as investors regained confidence in the AI trade following blockbuster earnings by major Wall Street tech giants and upbeat capital spending commentary, which led to a robust recovery.

Nvidia, the world’s most valuable company, has recovered 24.5% so far in April.