Nvidia’s stock price surged by 4.2 per cent to a record high following the announcement of an expanded partnership with Google Cloud.

Google Cloud chief executive Thomas Kurian and Nvidia founder and chief executive Jensen Huang said during a fireside chat at Google Cloud Next that the new partnership would see the provision of end-to-end machine learning services to some of the “largest AI customers in the world”.

The service will also enable the running of AI supercomputers with Google Cloud offerings built on chipmaker Nvidia’s technologies, they added.

“We’re at an inflection point where accelerated computing and generative AI have come together to speed innovation at an unprecedented pace,” Huang said. “Our expanded collaboration with Google Cloud will help developers accelerate their work with infrastructure, software and services that supercharge energy efficiency and reduce costs.”

The expanded partnership follows Nvidia’s announcement that its second quarter revenues doubled compared to the same period of 2022 and rose by 88 per cent in comparison with the first quarter of 2023 to over $13 billion.

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