The stock rally powered ahead as Nvidia Corp.’s bullish outlook rekindled the artificial-intelligence mania and data showed the world’s largest economy is still going strong.
From the US to Europe and Japan, equities hit all-time highs, with the most-valuable chipmaker up 15% Thursday and on course to add more than $230 billion to its market capitalization. That would be the biggest single-session increase in value ever — eclipsing a $197 billion gain made by Meta Platforms Inc. With the numbers now in, bulls are calculating Nvidia’s new price-to-earnings ratio, or how much investors are paying for future growth. Put another way, the company’s profits have been growing faster than its shares.
