The chipmaker's stock soared 16.4% to a record-high close at $785.38.

That lifted its market capitalization to $1.96 trillion.

Nvidia's latest quarterly report out Wednesday showed demand for its specialized chips used in AI computing continues to outpace analysts' already-high expectations.

The Santa Clara, California-based company's results are fueling a global rally in technology stocks linked to AI...

propelling the share average of the S&P 500, Europe's STOXX 600 and Japan's Nikkei to record highs.

Nvidia's historic one-day increase in stock market value easily beat the previous record set by Meta Platforms, which saw a $196 billion gain on February 2.

The chipmaker is now the U.S stock market's third-most valuable company - behind Microsoft and Apple, but ahead of Amazon and Alphabet.

Nvidia's stock has climbed 58% in 2024 - a quarter of the S&P 500's increase since the start of the year.