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Meta, valued at about $670 billion as of last close, clinched
the trillion-dollar market capitalization milestone in 2021,
while Apple Inc, Alphabet Inc, Microsoft Corp and Amazon.com Inc
are the other U.S. companies that are part of the club.
AI took center stage after Nvidia stunned investors with a
revenue forecast last week that surpassed analysts' expectations
by more than 50%.
Wall Street analysts called Nvidia's forecast "unfathomable" and
"cosmological", hiking their price targets in droves. The
highest price target valued the company at about $1.6 trillion,
on par with Google-parent Alphabet.
Nvidia's shares rose about 25% last week sparking a rally in
AI-related stocks and boosted other chipmakers, helping the
Philadelphia SE Semiconductor index close on Friday at its
highest in over a year.
OpenAI-owned ChatGPT's rapid success has prompted tech giants
such as Alphabet and Microsoft to make the most of generative
AI, which can engage in human-like conversation and craft
everything from jokes to poetry.
(Reporting by Medha Singh and Akash Sriram in Bengaluru; Editing
by Shounak Dasgupta)
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