Nvidia ignites chip stock rally as forecast shows AI boom is intact

Nvidia ignited a chip-stock rally on Thursday with a rare ​long-term revenue projection that did what ​its recent quarterly beats could not – ease investor fears that the ​AI boom is fading.

Shares of the chipmaker jumped 6.8%, putting the chipmaker on track to add about $295.7 billion in market value and marking its best single-day performance since June 1, if gains hold.