Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA) jumped 2.3% in the afternoon session after several Wall Street firms raised their price targets on the stock and reports surfaced of a major deal involving its advanced AI systems.<\/p>\n
The positive sentiment was fueled by a reported deal where cloud provider CoreWeave agreed to supply Meta Platforms with up to $14.2 billion in AI computing power using Nvidia’s latest GB300 systems. This agreement highlighted the immense and sustained demand for AI infrastructure from major tech companies. Further boosting investor confidence, several financial firms, including KeyBanc, Barclays, and Citi, increased their price targets for Nvidia. Analysts pointed to an improving supply of key components and strong, continued spending in the AI sector as the primary reasons for their optimistic outlook, which helped push the stock to a record high.<\/p>\n
After the initial pop the shares cooled down to $186.21, up 2.4% from previous close.<\/p>\n
Is now the time to buy Nvidia? Access our full analysis report here, it\u2019s free<\/a>.<\/p>\n Nvidia\u2019s shares are quite volatile and have had 18 moves greater than 5% over the last year. In that context, today\u2019s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.<\/p>\n The previous big move we wrote about was 8 days ago when the stock gained 4.1% on the news that the company announced a partnership with OpenAI that included plans for a potential investment of up to $100 billion.<\/p>\n The deal aimed to supply OpenAI with advanced AI hardware for its next generation of AI models and the buildout of massive data centers. According to the announcement, the partnership involved deploying at least 10 gigawatts of Nvidia’s systems for OpenAI’s AI infrastructure. This news solidified Nvidia’s central role in the future of artificial intelligence.<\/p>\n Nvidia is up 34.6% since the beginning of the year, and at $186.21 per share, has set a new 52-week high. Investors who bought $1,000 worth of Nvidia\u2019s shares 5 years ago would now be looking at an investment worth $13,762.<\/p>\n Unless you\u2019ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA) jumped 2.3% in the afternoon session after several Wall…\n","protected":false},"author":2,"featured_media":95383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[261],"tags":[291,289,290,18,19,17,292,29633,82],"class_list":{"0":"post-95382","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-artificial-intelligence","10":"tag-artificialintelligence","11":"tag-eire","12":"tag-ie","13":"tag-ireland","14":"tag-nvidia","15":"tag-stock-trades","16":"tag-technology"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/95382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=95382"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/95382\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/95383"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=95382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=95382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=95382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}