Nvidia stock surged to a record in Thursday trading after analysts at Wells Fargo raised their price target by about 30%, saying the videogame- chip powerhouse was well positioned to help build the metaverse.

Shares of the leading maker of computer graphics processing units (ticker: NVDA), jumped 15% to $306.72 in intraday trading. That pushed it to a market capitalization of more than $760 billion. Shares gave up some of those gains to close at $298.01 on the day.