Nvidia’s stock surged after reporting blowout earnings, driven by robust demand for AI chips. The AI boom is fueling a microchip supply crunch, exacerbating existing shortages. Analysts expect the chip shortage to persist until 2024 as AI adoption accelerates. Nvidia’s data center sales skyrocketed 64%, reflecting the AI frenzy. However, the Fed’s rate hike path remains uncertain, adding volatility to markets. Blackwell warned that the Fed may need to raise rates higher than expected to tame inflation. Despite economic risks, the AI revolution is propelling Nvidia’s growth and intensifying the global scramble for advanced chips.