Shares in Nvidia closed at a fresh record on Monday, passing the previous peak they had hit in July as renewed confidence about a soft landing for the US economy drives a rebound in big technology stocks.
Shares in the US chipmaker added 2.4 per cent to close at $138.07, bringing its market capitalisation to $3.39tn, within reach of Apple’s market-leading $3.5tn valuation.
A bout of weakness for Nvidia and other large tech stocks over the summer had led many investors to predict a longer-term rotation away from tech in favour of previously-unloved sectors such as financial services and industrials.
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