BUZZ-Nvidia heads toward $2 trillion market cap after blowout forecast

Reuters02-22

** Shares of Nvidia jump 13.9% to $768.8 in premarket trading - on track to hit a record high at market open

** The chip designer forecast a roughly threefold surge in quarterly revenue that handily beat estimates as it banked on towering demand for its artificial-intelligence $(AI)$ chips

** Stock set to add more than $230 bln in market cap, taking it closer to the $2 trillion mark for the first time

** Co also forecast Q1 revenue growth of 233%, ahead of Wall St est of 208% growth

** Thursday's early gains put Nvidia on track to reclaim the title of the third most valuable U.S. company, behind Microsoft

and Apple

** U.S.-listed shares of British chip designer Arm Holdings

gains 9.6%, Super Micro Computer , seen as a big beneficiary of strong AI technology demand, jumps 14.6%

** Other chipmaker Advanced Micro Devices up 5.9%

** Smaller AI firms: Bigbear.ai climbs 9.3%, C3.ai

up 6.5%, SoundHound AI rallies 8.8%

** VanEck Semiconductor ETF up 5.8%, iShares Semiconductor ETF adds 4.0%

** Low-float Beamr Imaging , an Israel-based video software maker that said last week it would present research relating to automated video modernization with Nvidia, rallies 23.0%

(Reporting by Sruthi Shankar in Bengaluru)

((sruthi.shankar@thomsonreuters.com;))

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