NVIDIA stock rises 7.8% after 70% forecast, Hugging Face deal
NVIDIA's stock shot up 7.8% on Thursday, hitting $226.12 a share and adding a massive $359 billion to its market value.
The jump came after NVIDIA predicted 70% revenue growth in fiscal 2028, with CEO Jensen Huang calling AI an "inflection point" that is catching on far beyond just big tech.
NVIDIA has agreed to acquire AI platform Hugging Face for $12.9 billion, according to The Information.
Semiconductor stocks climb, NVIDIA faces bottlenecks
NVIDIA's upbeat long-term revenue outlook also gave semiconductor stocks a lift. Micron and Marvell both saw solid gains right after the news.
NVIDIA is doubling down on AI, investing in companies like OpenAI and Anthropic as part of its long-term vision.
But even with all this momentum, NVIDIA still faces chip shortages and production bottlenecks, showing that riding the AI wave is not always smooth sailing.