What's Going On With Nvidia Stock Wednesday?
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp is in talks to take an equity stake in Lambda Labs, a startup that competes with Amazon Web Services and other cloud providers in renting servers with Nvidia chips. The deal could total $300 million in new capital and might value Lambda Labs at over $1 billion. BofA Global Research analyst Vivek Arya reiterated his Buy rating for Nvidia stock and raised his price target to $550 from $500. Qualcomm Inc tapped Meta Platforms Inc to optimize the execution of Meta's Llama 2 large language models on devices, which have primarily run on Nvidia graphics processors.
July 19, 2023 | 4:23 pm
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Amazon Web Services could face increased competition as Nvidia is in talks to take an equity stake in Lambda Labs, a startup that competes with Amazon in renting servers with Nvidia chips.
If Nvidia takes an equity stake in Lambda Labs, it could strengthen the startup's position in the cloud services market, potentially posing a threat to Amazon Web Services.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Meta Platforms has partnered with Qualcomm to optimize the execution of Meta's Llama 2 large language models on devices, which could save developers on cloud costs.
The partnership with Qualcomm could provide Meta Platforms with an opportunity to expand its presence in the device optimization market, which could positively impact its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Nvidia is in talks to take an equity stake in Lambda Labs, which could strengthen its position in the cloud services market. The company's stock price target has been raised to $550 by BofA Global Research.
The potential deal with Lambda Labs could provide Nvidia with a stronger foothold in the cloud services market, which could positively impact its stock price. Additionally, the raised price target by BofA Global Research indicates a positive outlook for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Qualcomm has partnered with Meta Platforms to optimize the execution of Meta's Llama 2 large language models on devices, which could save developers on cloud costs.
The partnership with Meta Platforms could provide Qualcomm with an opportunity to expand its presence in the device optimization market, which could positively impact its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60