Nvidia rises after signaling longer AI spending runway

Aug 27 : Nvidia shares rose about 6 per cent before the bell on Thursday as investors embraced the chipmaker's strong long-term outlook, betting that a global race to build AI infrastructure will fuel years of rapid growth despite concerns about supply bottlenecks and financial ties with customers.The world's most valuable company projected 70 per cent revenue growth next fiscal year and forecast current-quarter sales above Wall Street estimates, signaling that the AI spending boom remains intact.The forecast offers fresh ammunition to bulls after Nvidia's shares fell nearly 12 per cent from their May peak as investors increasingly demanded evidence that the AI spending boom would last.Following the results, at least 10 brokerages raised their price target on the shares, according to data