On May 8, Nvidia's shares rose 3% to a record high of $217.80, extending their rally into a third day and positioning the company for its largest weekly gain in six months. This surge is fueled by a new partnership with IREN Ltd., an AI cloud provider, in which Nvidia is investing $2.1 billion. The collaboration aims to enhance AI infrastructure, with IREN set to provide cloud services worth approximately $3.4 billion in revenue over five years. Nvidia's market capitalization has now exceeded $5.2 trillion, reflecting a 15.72% increase this year. Despite earlier concerns regarding heavy spending in the AI sector, recent earnings reports from competitors like Intel and Advanced Micro Devices have restored investor confidence, indicating robust demand for AI chips. Major cloud-computing companies are projected to spend over $700 billion on AI this year, further bolstering Nvidia's optimistic outlook.