Following the latest artificial intelligence news, the shares of the world-famous chipmaker, NVIDIA, have returned above their all-time highs. What’s happening in the stock market?
NVIDIA shares, under the incredulous gaze of traders and investors, have once again exceeded their highs, in a rather contradictory 2024.
Despite a difficult start to the year for US stocks, the shares of the world-famous chipmaker quickly confirmed their strength.
In addition to the general euphoria pervading the market, NVIDIA shares maintain a bullish trend for other media and fundamental reasons. Here’s a look at why NVDA stock continues its ascent.
New graphics processors from NVIDIA? Here’s what investors like
At the center of the discussion are the new desktop graphics processors proposed by the company, which seem to exploit artificial intelligence processes, in particular the GeForce RTX 40 SUPER, mainly used for gaming. But this is not the only news surrounding the world’s number one chipmaker: important developments also come from China. The company plans to launch a mass production line in China for AI-related products, to maintain strong export rules to the USA, which could start as early as the second quarter of the year. Among the chips proposed, the most interesting seems to be the H20 chip. This news was welcomed with great enthusiasm by investors and traders, who flooded the NVDA stock with purchase orders, already highly appreciated on the stock market thanks to the artificial intelligence boom that erupted in 2023. 2024 does not seem to be less, and NVDA shares take advantage of the general euphoria of the market and the latest news to surpass last year’s highs, returning to trade well above the $500 level.
NVDA Stocks: What’s Happening?
From a technical point of view, the only ones dissatisfied with NVIDIA’s performance at the moment are the short sellers, who currently find themselves, in almost all cases, at loss. Referring to the bets against US stocks, there is talk of paper losses of $194.9 billion in 2023 alone. Likewise, buyers, despite a slightly worrying start to the year, are smiling again, with the stocks of ’ magnificent 7’ again racing upwards. An extreme case is NVIDIA, which, despite the exceptional appreciation and the incredible graphic expansion recorded by the price, managed to break the highs of $500, closing the stock market session in positive. Many hope to witness the first weekly close above this level, to confirm a hypothetical continuation of the ongoing macro-trend. Looking at the Nasdaq Global Artificial Intelligence and Big Data index, it is easy to realize that the news regarding NVIDIA has also influenced other AI-related stocks, resulting in a generalized appreciation of the index.
- NVDA 1D
- Source: teletrader.com
Original article published on Money.it Italy 2024-01-09 16:20:13. Original title: Le azioni Nvidia tornano a brillare con i nuovi massimi
