Nvidia was rising Tuesday as investors gauged the competitive threat posed by Qualcomm’s artificial-intelligence chips and digested a flurry of announcements at the company’s conference in Washington,

Nvidia, the artificial intelligence (AI) chip leader, will build seven new supercomputers for the United States Department of Energy (DOE), CEO Jensen Huang has said. The company has $500bn in bookings for its AI chips, Huang said on Tuesday in a keynote address at the company’s GTC event in Washington, DC, the US capital.