What's Going On With Nvidia Stock Monday?
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp (NVDA) continues to perform well, buoyed by the ChatGPT frenzy and the acquisition of AI startup OmniML. The acquisition could hint at Nvidia's desire to improve its AI chips for various applications. The company's stock has gained close to 200% YTD and was the first to join the trillion-dollar valuation club in 2023. Last week, Nvidia invested in DeepMind co-founder's Inflection AI startup, gaining access to 22,000 Nvidia H100 GPUs. Analysts from Daiwa Capital and Raymond James expressed confidence in Nvidia's position despite U.S. government's aggressive export controls.
July 03, 2023 | 3:24 pm
News sentiment analysis
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POSITIVE IMPACT
Nvidia's stock is performing well, with potential for further growth due to recent acquisitions and investments. The company's position is strong despite regulatory concerns.
Nvidia's acquisition of OmniML and investment in Inflection AI, along with the ChatGPT frenzy, are positive indicators for the company's stock. Despite regulatory concerns, analysts remain confident in Nvidia's position.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Microsoft Corp (MSFT) was mentioned as a co-investor in the funding round for Inflection AI startup, alongside Nvidia.
Microsoft's investment in Inflection AI, while potentially beneficial, is not the main focus of the news and is unlikely to have a significant short-term impact on the company's stock.
CONFIDENCE 75
IMPORTANCE 30
RELEVANCE 20