The company's stock rose 4.4% on Tuesday morning and about 25% over the past week. The reason? The demand for AI.
. The company said it is boosting production of the chips, which are used in products like ChatGPT, the AI bot that can complete tasks and answer questions with impressive accuracy.
In an interview with Reuters, Nvidia Chief Executive Officer Jensen Huang said the company began producing new AI chips in August and the increasing popularity of AI lead to a steep demand increase by January. "We had to place additional orders, and we procured substantially more supply for the second half" of 2023, Huang said.
With a $1 trillion value, Nvidia joins the ranks of other tech companies like Google, Apple and Microsoft. In fact, it would be the sixth highest valued public company,
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