FILE PHOTO: A NVIDIA logo is shown at SIGGRAPH 2017 in Los Angeles, California, U.S. July 31, 2017. REUTERS/Mike Blake/File Photo
(Reuters) -Nvidia's shares scaled a new peak on Monday after Goldman Sachs raised its price target for the high-flying chipmaker's stock in anticipation of a major boost to its earnings from the artificial intelligence (AI) boom.
The stock rose about 4% to $689.21 and looked set to add about $70 billion to the company's market capitalization. Nvidia was valued at $1.63 trillion as of Friday's close.
