News on Medial

Wall Street just can't get enough of Nvidia

Business Insider · 1y

Wall Street is buzzing with excitement over Nvidia as the chipmaker's market value surpasses Amazon and Google. Traders anticipate a potential 11% swing in Nvidia's shares following its upcoming earnings report. Several high-profile investors, including Bridgewater Associates and Fisher Investments, increased their stakes in Nvidia. However, concerns linger among others, such as David Tepper and Jim Chanos, who have trimmed their positions. The stock has experienced a significant surge, pushing Nvidia's valuation to $1.83 trillion and establishing it as a dominant player in the Big Tech market. AI-driven advancements have contributed to the rally, with Nvidia's GPUs being crucial for powering large language models like OpenAI's ChatGPT.