Nvidia's rally turbo charged by 'metaverse', valuation breaches $800 billion

By Reuters

Shares of Nvidia Corp surged 12% on Thursday, taking the chipmaker closer to the $1 trillion valuation mark on hopes that it will get a boost from companies plowing billions of dollars into their “metaverses”, the latest technology buzzword. The company's stock has been on a tear, especially after Meta Platforms, formerly Facebook, announced plans late in October to rebrand itself in a bid to build a metaverse around its widely used platforms. Nvidia on Wednesday forecast upbeat fourth-quarter results, betting on growth in its business that supplies chips to power artificial intelligence and the metaverse.

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