The Financial Post reports in its Friday, June 27, edition that Nvidia shares reached an all-time high on Wednesday, rising 4.3 per cent to $154.31 (all figures U.S.). A Bloomberg dispatch to the Post reports that this marks a 63-per-cent increase since April, adding nearly $1.5-trillion to its market capitalization. With a market cap of approximately $3.77-trillion, Nvidia has surpassed Microsoft, which stands at $3.66-trillion. Nvidia's recent earnings report showcased strong growth and optimism, despite restrictions on advanced semiconductor sales in China. Reports from major clients like Microsoft, Meta, Alphabet and Amazon -- all accounting for over 40 per cent of Nvidia's revenue -- highlight their continued investment in AI infrastructure. Allspring Global Investment manager Michael Smith says: "My confidence in Nvidia's growth is higher than it was a couple months ago, and it seems the AI arms race will continue through 2025 and probably 2026. The momentum has clearly been re-established, and Nvidia's moat has only widened and deepened, meaning its position has only strengthened." On Wednesday chief executive officer Jensen Huang reassured investors that demand remains strong.