Since the beginning of November, Nvidia shares have surged 22%, increasing its value by $220bn. The company’s shares have risen for 10 consecutive trading sessions, marking the longest winning streak since 2016. The company’s stock rise was fuelled by a broad market rally and the announcement of a new chip.

Nvidia shares have risen for 10 consecutive trading days, increasing its market value by $220bn in November alone.

The stock is on its longest winning streak since December 2016 and is up nearly 22% since the beginning of the month, according to data compiled by Bloomberg.

Nvidia shares rose 1.7% to $494.19 on Tuesday, extending a massive year-to-date gain of 239%.

The latest rally comes amid a rebound in the broader market as investors have recently poured back into U.S. stocks on the belief that interest rates are unlikely to continue rising. Other tech stocks such as Apple and Microsoft have also risen, though not at the same pace as Nvidia.

Meanwhile, Nvidia recently unveiled its latest H200 AI Accelerator chip, which aims to provide consumers with high-bandwidth, performance-enhancing memory that is compatible with previous versions of the chip.

However, problems for Nvidia arise as geopolitical differences between the US and China create friction in the global chip industry.

According to state-run Chinese media, Nvidia is preparing to create three new chips for the country in response to US restrictions on China’s access to key technologies.

According to Bank of America, the company will hold a press conference later this month that is likely to address the China issue as well as other potential risk factors. These include AMD’s growing competitiveness and the perception that Nvidia’s chips are too expensive for generative artificial intelligence.