Nvidia Corp. has reached a new milestone with its market capitalization hitting $3.7 trillion, underscoring its dominance in the technology sector. This achievement comes as Nvidia's CFO, Colette Kress, downplayed the potential rapid market share gains by custom ASICs from competitors like Broadcom and Marvell during an investor dinner. Kress expressed confidence in the steady increase of compute demand for AI, driven by factors such as pre-training and the expansion of model sizes. Additionally, Nvidia's partnership with MediaTek has contributed to a rally in MediaTek's shares, as reported by Bloomberg. Analysts from BofA reiterated a 'Buy' rating on Nvidia with a price target of $190, citing Nvidia's role as an AI incubator and its strong position in the AI market.