Nvidia stock scored a new high on Wednesday on strong demand for its chips that are used in Hewlett Packard Enterprise's AI servers.
The tech-heavy Nasdaq Composite was on pace to mark its 13th record close of the year. Its star performers are leading the rally. Nvidia was up 2.6%, at $1,194.27, in early trading, setting a new intraday high.
Nvidia stock was gaining early on Wednesday as it continues to benefit from expectations for its next generation of artificial-itelligence chips. Both Tesla and Hewlett Packard Enterprise executives called out the chip maker as the dominant supplier in the AI boom. Nvidia shares were up 2.6%, at $ 1,194.27, in early trading, setting a new intraday high.