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Investors with short position on Nvidia lost $826 million in mark-to-market losses on Thursday, data from analytics firm S3 Partners showed, as the world's largest chipmaker's shares surged after a strong revenue forecast.

Bearish bets on the chip designer, which is the biggest beneficiary of AI boom, have cost investors $11.36 billion in paper losses so far this year, neck-to-neck with Tesla as the worst-performing short bet, S3 Partners said.

Nvidia shares rose 7.4% to $506.30 before the opening bell.

@arbindtiwariT