Nvidia, the leading computer chip maker, has significantly outperformed market expectations with its latest quarterly results, driven by the surging demand for its artificial intelligence (AI) chips. The company reported a staggering 265% increase in quarterly revenues, reaching $22.1 billion, up from $6.05 billion in the previous year, surpassing analysts' predictions of a 240% rise to $20.6 billion. Profits soared to $12.3 billion. This remarkable performance has not only boosted Nvidia's stock by up to 16.4% but also contributed to a broader rally in AI and semiconductor stocks, with shares up 10% after-hours and popping 12% in premarket trade. The company's success has been attributed to the AI boom, with Nvidia declaring AI a 'tipping point' for its business. As a result, Nvidia's market capitalization is rapidly approaching $2 trillion, setting new records for the largest single-day market cap gain in history, adding $277 billion in one day and briefly surpassing $2 trillion in market cap during intraday trading. This surge has propelled global stock markets, with indices in Japan and Europe reaching all-time highs and the S&P 500 and Dow Jones Industrial Average marking new record closes. Nvidia's forecast for the current quarter is around $24 billion in revenue, further fueling optimism in the tech sector and beyond.