Nvidia Corp. (NVDA) shares surged to a record high on Thursday, as investors continue to show confidence in the chipmaker’s ability to capitalize on the ongoing tech boom.

The company’s stock rose as high as $588.71 during the trading session, and closed up 4.5% to $585.67, its best closing price ever. Nvidia’s market capitalization now stands at more than $300 billion, making it one of the most valuable tech stocks in the world.

Nvidia is largely seen as a major beneficiary of the tech boom, as its products are used in everything from gaming and data centers to autonomous driving. The chipmaker has been able to capitalize on the surge in demand for its products and services, as evidenced by its most recent earnings report.

In its latest quarterly report, Nvidia reported record revenue of $5.3 billion, a 77% increase from a year ago. The company also posted earnings per share of $1.78, a full $0.50 higher than the estimates.

Nvidia’s strong performance has also been fueled by a wave of positive news, including its acquisition of Mellanox Technologies, its launch of the Ampere GPU architecture, and its foray into the autonomous vehicle market.

As the technology sector continues to boom, investors remain bullish on Nvidia’s prospects. With the company’s strong fundamentals and the potential for further growth, shares of Nvidia are likely to remain on an upward trajectory.