Nvidia Shares Go on a $290 Billion Tear as Clients Splurge on AI

Nvidia Corp. shares rallied back from last week’s selloff as some of the chip giant’s biggest clients are doubling down on artificial intelligence investments.

The Santa Clara, California-based company’s stock jumped 15% this week, adding nearly $290 billion in market capitalization and posting its best weekly performance since last May. The surge comes after firms like Meta Platforms Inc., Alphabet Inc. and Microsoft Corp. pledged billions in AI investments.

“The future is AI,” said Paul Marino, chief revenue officer at GraniteShares. “And if the largest companies in the world are pouring tens of billions of dollars each into this, ...