Nvidia tops $700 billion valuation for first time as optimism grows for ‘metaverse’ opportunity

Shares of Nvidia Corp. enjoyed their largest single-day percentage gain in more than 19 months Thursday, as optimism builds for the company’s annual GTC developer conference that could highlight opportunities within the hot “metaverse” theme.

Nvidia’s stock NVDA rose 12% Thursday, the largest percentage increase since a 17% gain on March 24, 2020. The gain pushed the company’s market capitalization higher than $700 billion for the first time, according to Dow Jones Market Data, with a valuation of $745 billion as of Thursday’s…