Nvidia chief Jensen Huang said during an interview with CNBC on Wednesday that demand for the tech giant’s Blackwell “Superchip” is “insane,” sending Nvidia shares up more than 3% on Thursday. Nvidia shares reached as high as $124.26 on Thursday before cooling down to $122.80 at market close, a 3.3% jump.

Nvidia’s (NVDA) next-generation artificial intelligence chip is in full production, and demand for it is “insane,” according to CEO Jensen Huang.

The Gen AI boom, of course, quickly made Nvidia, which has added more than $2 trillion to its market cap in just over a year, one of the world’s largest companies. The stock accounted for roughly 30% of the S&P 500’s gains in the first half of the year, with shares up over 154% year to date.