What's Going On With Nvidia Stock Friday?
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp's stock is trading lower due to greater-than-expected inflation and overall market weakness. The stock is also affected by concerns over U.S.'s additional sanctions on China concerning artificial intelligence chips. Chinese companies, including Alibaba Group Holding, have ordered Nvidia AI chips in bulk, fearing a supply crisis. Concerns also loom over Nvidia's ability to supply AI chips, which could benefit Advanced Micro Devices, Inc and Samsung Electronics Co, Ltd.
August 11, 2023 | 6:08 pm
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POSITIVE IMPACT
Advanced Micro Devices could benefit from the concerns over Nvidia's ability to supply AI chips.
AMD could benefit from the situation as it is a competitor of Nvidia in the AI chip market. If Nvidia faces a supply crisis, AMD could gain a larger market share.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Samsung Electronics Co, Ltd could benefit from the concerns over Nvidia's ability to supply AI chips.
Samsung could benefit from the situation as it is a competitor of Nvidia in the AI chip market. If Nvidia faces a supply crisis, Samsung could gain a larger market share.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEUTRAL IMPACT
Alibaba has ordered Nvidia AI chips in bulk, fearing a supply crisis due to U.S.'s additional embargo on the industry.
Alibaba is indirectly affected by the U.S. sanctions on China and concerns over AI chip supply. However, it has taken measures to mitigate the impact by ordering in bulk.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60
NEGATIVE IMPACT
Nvidia's stock is trading lower due to inflation, market weakness, and concerns over U.S. sanctions on China and AI chip supply.
The stock is directly affected by the overall market weakness and inflation. The U.S. sanctions on China and concerns over AI chip supply also directly impact Nvidia's business.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Invesco QQQ Trust, Series 1 traded lower by close to 1%.
The ETF is affected by the overall market weakness and inflation, which are causing a downturn in the stock market.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
SPDR S&P 500 is also down.
The ETF is affected by the overall market weakness and inflation, which are causing a downturn in the stock market.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50