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.

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's stock is soaring, driven by an 'AI Golden Wave,' say analysts. Loop Capital's Ananda Baruah predicts Nvidia's market cap will reach $6 trillion, citing surging demand for AI chips from governments and Big Tech.