Loop Capital analyst Ananda Baruah on Wednesday raised his price target on Nvidia shares to $250, the highest of Wall Street analysts tracked by Yahoo Finance, implying that the AI chipmaker’s market capitalization could soar to $6 trillion. Baruah expects the market for AI chips to grow to $2 trillion in 2028.

Nvidia stock was rising again Thursday after it regained the crown as the world’s largest company by market value.A strong earnings report from Micron Technology—Nvidia’s key supplier of high-bandwidth memory chips—after the bell Wednesday was another good sign for the artificial-intelligence trade.

The US chip designer’s shares rose 4 per cent, surpassing an all-time high intraday price set in January, as it vies with Microsoft and Apple to be the world’s most valuable company. The rally came as Nvidia chief executive Jensen Huang gave a bullish outlook at the company’s annual shareholder meeting on Wednesday about its ability to continue its explosive growth over the next decade.