Reuters Nvidia added 277 billion in stock market value on Thursday, Wall Street39;s largest oneday gain in history after the heavyweight chipmaker39;s quarterly report beat expectations and reignited a rally fueled by optimism about artificial intelligence.

The company39;s stock soared 16.4 to close at 785.38, a recordhigh close, lifting its market capitalization to 1.96 trillion after its Januaryquarter report late on Wednesday showed demand for its specialized chips used in AI computing continued to outpace analysts39; alreadyhigh expectations.

The Santa Clara, Californiabased company39;s results fed new fuel to a global rally in technology stocks linked to AI, propelling the SP 500, Europe39;s STOXX 600 and Japan39;s Nikkei share average to record highs.

Traders exchanged 65 billion worth of Nvidia39;s shares on Thursday, accounting for almost a fifth all trading in SP 500 stocks.

Nvidia39;s oneday increase in stock market value was the largest in Wall Street39;s history, easily beating a record 196 billion gain by Meta Platforms on Feb. 2 after the Facebook parent declared its first dividend and posted robust results.

The rise in Nvidia39;s market value on Thursday eclipsed the entire value of CocaCola, at 265 billion.

Its gain made Nvidia the U.S. stock market39;s thirdmost valuable company, pulling ahead of Amazon.com and Alphabet after jockeying with the two tech powerhouses in recent weeks.

Microsoft and Apple, valued at 3.06 trillion and 2.85 trillion,…