Nvidia stock has climbed for 10 consecutive trading days, adding $220 billion in market value in November alone.

Shares are on their longest winning streak since December 2016, according to Bloomberg, and have surged nearly 22% since the start of the month.New Delhi Investment

On Tuesday, Nvidia rose 1.7% to $494.19, extending a massive year-to-date gain of 239%.Agra Investment

The latest rally comes amid a broader market upswing, as investors have recently piled back into US equities on a growing bet that interest rates are unlikely to keep rising. Other tech stocks have also rebounded, such as Apple and Microsoft, though not quite at Nvidia's pace.

Meanwhile, Nvidia recently unveiled the latest H200 AI Accelerator chip that is meant to provide consumers with high-bandwidth memory that boosts performance and is compatible with previous chip installations.Nagpur Investment

"We view the latter point as critical, as hyperscalers do not need to invest to reconfigure their existing hardware platform, incentivizing customers to remain key partners of NVDA," Bank of America wrote on Monday. The bank holds a $650 price target for Nvidia.

But challenges for Nvidia loom as the geopolitical divide between the US and China creates friction in the global chip industry.

In response to US limits on Chinese access to key technologies, Nvidia is reported to be in the process of making three new chips for the country, state-affiliated Chinese media said.