Thanks to artificial intelligence tools like ChatGPT, Nvidia’s valuation has rocketed from $1 trillion to more than $2 trillion in just nine months

Nvidia’s chief executive said AI can already pass legal bar exams and could be able to tackle specialised medical tests in five years’ time

The firm consolidated its position as the US’s third most valuable firm after its market valuation jumped from $1 trillion in just eight months

Chinese cloud firms have previously told Nvidia they don’t want its slower AI chips and that they would prefer using homegrown chips from companies such as Huawei

Local governments in Shanghai and Anhui will fund a variety of semiconductor-related projects this year — ranging from the development of DRAM chips to building facilities for chipmaking and its tools

US-listed shares of the chip designer, seen as benefitting from investors' hunt for the "next Nvidia", have surged more than 95% in just the last seven trading sessions alone

"If you just assume that computers never get any faster, you might come to the conclusion we need 14 different planets and three different galaxies and you know four more Suns to fuel all this."

China's fast-growing electric vehicle market is set to be the key battleground for the chip makers

China's rising EV brands are a key market for automotive technology makers as they race each other to launch more automated driving functions

China's Alibaba and Tencent have reportedly told Nvidia that they will be switching to domestic firms such as Huawei for some advanced chip orders

Big tech firms like Tencent and even smaller and upcoming Chinese AI players are accelerating chip product launches and organising more marketing visits

The Southeast Asian nation is looking to move beyond manufacturing and assembly amid trade tensions between the US and China