US microchip maker Nvidia achieved the biggest one day increase in value of any company in history as investors clamour for a stake in the AI industry.

Nvidia managed to silence the doubters, rising 16.4% to close at an all time high, beating earnings and revenue estimates and posting strong guidance for this quarter. AMD gained 10.69%, closing within a few dollars of its all time high, and SMCI closed up 32.87%.