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Nvidia Sees Soaring Demand and Stock Amid AI Market Surge
2024-09-12 09:00:09
Artificial Intelligence
Tech
Technology

Nvidia Sees Soaring Demand and Stock Amid AI Market Surge

Nvidia's CEO announces remarkable demand, especially from cloud giants Microsoft and Amazon, using Nvidia chips for AI applications. The collaboration with Oracle for training AI models in OCI Superclusters, offering lucrative rentals for every dollar spent, propels Nvidia's growth.

The stock surged 8%, recovering from recent losses, driven by a positive sales forecast. Nvidia's lead in GPU technology and strategic partnerships underscore its pivotal role in the AI market rally, reflected in a $2.86T market cap and a 142.7% YTD increase.

Additionally, the export approval for AI chips to Saudi Arabia signals further expansion. The tech giant's resilience amidst market fluctuations highlights its influence on the sector's bullish momentum.

Related news on that topic:

Nvidia CEO Jensen Huang: Navigating High Demand and Employee ... Commitment

Nvidia's CEO, Jensen Huang, discusses the soaring demand for their technology, particularly their Blackwell chips, and the challenges of meeting it amidst supply shortages. He emphasizes the importance of customer relations and the company's plan to supplement its workforce with 'digital engineers'. Additionally, Huang highlights the company's innovative use of AI in chip design. Despite the intense work environment, characterized by long hours and high expectations, Nvidia employees are rewarded with stock grants reflecting the company's impressive stock performance. Huang's focus remains on driving performance and maintaining Nvidia's position at the forefront of technological advancement.

Evaluating Nvidia's Worth Amid Market Enthusiasm and Doubts

Nvidia has become a central figure in the stock market, witnessing its stock soar 150% in a year, contributing significantly to the S&P 500's 25% gain. As a leading AI chip designer, its technology powers giants like Meta, Alphabet, and Microsoft. Despite this, some investors are questioning Nvidia's valuation and the future of AI, a critical tech revolution. Experts like Aswath Damodaran suggest that market enthusiasm may have inflated Nvidia's value, making investors scrutinize its true worth. Recent challenges, including a 14% drop in September and delays in their Blackwell architecture, have added to the uncertainty. However, Nvidia's strong revenue and profit growth, along with its position as a preferred AI chip provider, promise potential long-term gains. In contrast, some investors are shifting focus to other high-growth stocks like Amazon, Super Micro Computer, and Broadcom. The overall sentiment remains mixed, with Nvidia facing both skepticism and optimism about its future in the evolving AI landscape.

Read 4 more recent news on this topic

The press radar on this topic:

n-tv.de
11. September 2024 um 21:03

Nvidia firmly on the road to recovery: US investors are particularly active in tech stocks - n-tv.de

Finance
Technology
Nvidia is on a recovery course due to price gains in high-tech stocks on the US stock exchange. The US inflation data led to a burden on trading, while Nvidia's shares were in demand due to export approvals for advanced chips to Saudi Arabia. Solar stocks and lithium producers also recorded an increase, while GameStop was faced with a decline in sales.
Yahoo Finance
11. September 2024 um 23:03

Nvidia Soared Today Thanks to AI News -- Is It Time to Buy the Stock?

Technology
Finance
Economy
Nvidia's 8% rally fueled by AI demand, Blackwell chips, Saudi market access, GPU leadership, but Motley Fool's Stock Advisor has quadrupled S&P 500 returns since 2002.
Yahoo Finance
12. September 2024 um 12:09

Dow Jones Futures: Nvidia Leads Big Upside Market Reversal, 6 Stocks In Buy Areas (Live) | Investor's Business Daily

Finance
Technology
Dow Jones futures little changed; stock market rally staged dramatic turnaround; Nvidia, Tesla, AppLovin, ServiceNow, Spotify, Eli Lilly, Freshpet, On Holding flashed buy signals; Nvidia stock surged, regained 50-day line; Nvidia's importance to market; Taiwan Semiconductor, Broadcom regained 50-day lines; Bank of America raised APP stock price target; Semafor reported U.S. may let Nvidia export AI chips to Saudi Arabia; Nvidia has 131.26 buy point; Tesla has 271 consolidation buy point; Eli L..
Yahoo Finance
11. September 2024 um 21:46

Nvidia CEO Says Chipmaker Is Seeing ‘Incredible’ Demand, Sending Stock Higher Wednesday

Technology
Economy
Finance
Nvidia CEO reports "incredible" demand, with Nvidia chips used by cloud providers like Microsoft and Amazon for AI; Nvidia GPUs in Oracle's OCI Supercluster to train and deploy AI models; Nvidia partners with Oracle, touting $5 in rentals for every $1 spent; OCI Superclusters expected available in first half of 2025; Nvidia shares close 8% higher, partially reversing recent losses following a sales forecast.
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