NVIDIA stock price closed at a record high for the first time since October.

Nvidia closed at a record high on Friday, breaking through highs seen in recent months and serving as the latest example of increased momentum for this AI chip manufacturer. The stock closed up 4.3% at $208.26, surpassing the previous closing record set in October. The stock has rebounded 26% from its low point in late March. The recent strong performance is due to market expectations that major companies will continue to heavily invest in artificial intelligence, driving long-term growth for Nvidia. Large-cap tech stocks have been performing well recently, with strong growth expectations and valuations revised downward earlier this year, attracting investors back to this sector. Chip manufacturers have been particularly strong, with the Philadelphia Semiconductor Index rising for 18 consecutive trading days, setting a record for the longest winning streak. Strong performances from Texas Instruments and Intel have supported this sector recently.