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Nvidia shares buffeted by global security concerns TheStreet Daily Newsletter
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Nvidia shares recovered early losses, ending the day up 4 cents; Nvidia stock up 1.7% in September but down 1.7% in Q3.
2024-10-04 23:55:10
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Artificial Intelligence
Nvidia's Promising Future Amidst Market Fluctuations
Nvidia continues to dominate the AI chip market, with CEO Jensen Huang highlighting 'insane' demand for their upcoming Blackwell chips. Despite recent stock fluctuations, Nvidia's shares have soared 170% over the past year and 2,700% in five years.
Analysts remain bullish, with 90% recommending the stock and a target price of $147.60. The company's strategic partnerships, including collaboration with Nio for electric vehicles, showcase its innovative edge.
Although insiders have sold shares worth $1.8 billion, it appears to be a tactical move rather than a lack of confidence in the company's future. Nvidia's prowess in AI technology positions them well for the anticipated trillion-dollar AI spending boom.
As the company prepares for its delayed Blackwell chip launch, expectations are high for significant revenue growth by the end of the fiscal quarter. With robust fundamentals and a strong market presence, Nvidia's trajectory remains promising.
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Yahoo Finance
Nvidia stock rises after CEO Jensen Huang touts 'insane' chip demand
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Nvidia stock surges 5% as CEO touts 'insane' Blackwell chip demand. Stock slump linked to yen carry trade, China fears. Nvidia backs OpenAI in $6.6B round. 90% of analysts recommend stock, see $147.60 target. Nvidia stock up 170% in 12 months, 2,700% in 5 years, 150% YTD.
The Street
Veteran trader targets Nvidia as shares slide TheStreet Daily Newsletter
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Nvidia collaborated with Chinese automaker Nio on its Onvo sub-brand's L60 electric SUV, providing the Drive Orin AI chip that powers the vehicle's smart-driving system. Nvidia's next-generation Blackwell platform is in high demand from companies building AI data centers for products like ChatGPT and Copilot, and the company plans annual updates to boost performance. Trader James "Rev Shark" DePorre sees buying opportunities in Nvidia's volatile stock ahead of the next earnings report.
Yahoo Finance
Nvidia's Top Brass Unloaded Significant Stock In 2024 Amid AI Spending and Chip Delays
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Nvidia insiders, including CEO Jensen Huang, have sold over $1.8 billion in shares amid concerns over Blackwell chip delays and AI investments. Nvidia is applying spatial AI in autonomous driving and warehouse automation, launching open-source AI models and Unreal Engine 5 plugins. Wedbush analyst Dan Ives projected Nvidia as a beneficiary of the trillion-dollar AI spending by the U.S. hyperscalars. Investors can gain exposure to Nvidia through SPDR S&P 500 and iShares Core S&P 500 ETF. Nvidia's..
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