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NVIDIA Surges to Become Most Valuable Public Company as AI Boom Fuels Growth

NVIDIA Outperforms Microsoft Amidst AI Renaissance

Investing legend Eric Schmidt recently hailed NVIDIA as the "top beneficiary" of the burgeoning AI revolution. The company's shares have soared, propelling it past Microsoft to become the world's most valuable public company.

Key Highlights:

* NVIDIA's stock value has surged over 900% since late 2022. * NVIDIA's first-quarter earnings and sales exceeded analyst expectations, sending shares soaring over 7% in after-hours trading. * The company's success is attributed to its dominance in the AI sector, with its graphics processing units (GPUs) being widely used for AI applications.

Analyst Perspectives:

* Citigroup analyst Atif Malik raised his price target on NVIDIA shares from $1,050 to $1,200, citing the company's "strong execution and leadership in AI." * Wells Fargo analyst Aaron Rakers maintained an "Overweight" rating on the stock, saying that NVIDIA is "well-positioned to benefit from the continued growth of AI." * Morgan Stanley analyst Joseph Moore upgraded NVIDIA to "Equal-Weight" from "Underweight," citing its "improved execution and strong competitive position in AI."