Nvidia has rebuilt the optimism around its stock, which was dented earlier this year when a breakthrough by China’s DeepSeek led to concerns about the durability of Nvidia’s dominant position in the global AI infrastructure market. That event wiped nearly $600bn from the company’s market value.

Nvidia (NASDAQ: NVDA) has remained one of the most popular stocks in the market even after its unprecedented run-up since 2023. The demand for Nvidia's best-in-class graphics processing units (GPUs) hasn't let up because AI computing capacity hasn't come close to being fulfilled.

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.