Nvidia shares up on hopes of strong results powering another AI rally

As investors up their bets on the company that virtually makes all chips used in generative AI such as ChatGPT, its stock has surged 13% in the past week and tripled in value so far this year. "A lot is riding on these numbers, with the shares surging to fresh record highs ahead of their release," said AJ Bell investment director Russ Mould. "Given much of the gains made by equities in 2023 have been centered on Nvidia and the whole AI story, they are likely to have a significant impact on the wider market too."