What's Going On With Nvidia Stock Thursday?
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp's stock is experiencing a selloff following the U.S.'s early implementation of an export embargo on artificial intelligence chips. China accounts for 20%-25% of Nvidia's data center revenues. Despite this, CNBC's Jim Cramer remains optimistic about Nvidia due to increasing demand from Alphabet Inc and Microsoft Corp. The sanctions are expected to increase competition in the U.S., potentially affecting Advanced Micro Devices, Inc and Intel Corp. Nvidia is developing CPUs to support Microsoft's Windows operating system. Lackluster earnings results from Wall Street and Meta Platforms Inc's Q3 revenue report also impacted the stock.
October 26, 2023 | 4:18 pm
News sentiment analysis
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NEGATIVE IMPACT
The U.S.'s sanctions are expected to increase competition in the U.S., potentially affecting Advanced Micro Devices, Inc.
The U.S.'s sanctions are expected to increase competition in the U.S., which could potentially affect Advanced Micro Devices, Inc as they are in the same industry as Nvidia.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
The U.S.'s sanctions are expected to increase competition in the U.S., potentially affecting Intel Corp.
The U.S.'s sanctions are expected to increase competition in the U.S., which could potentially affect Intel Corp as they are in the same industry as Nvidia.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Nvidia's stock is experiencing a selloff due to the U.S.'s export embargo on AI chips and Wall Street's lackluster earnings results.
The U.S.'s export embargo on AI chips is directly affecting Nvidia's stock as China accounts for a significant portion of their data center revenues. Additionally, Wall Street's lackluster earnings results are also impacting the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Meta Platforms Inc's Q3 revenue report also had a bearing on Nvidia's stock.
Meta Platforms Inc's Q3 revenue report also had a bearing on Nvidia's stock. However, the exact impact is not clear from the article.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Google's parent company, Alphabet Inc, is contributing to the demand for Nvidia's AI chips.
Alphabet Inc is one of the companies increasing the demand for Nvidia's AI chips, which could potentially offset the impact of the U.S.'s export embargo.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Microsoft Corp is contributing to the demand for Nvidia's AI chips and Nvidia is developing CPUs to support Microsoft's Windows operating system.
Microsoft Corp is one of the companies increasing the demand for Nvidia's AI chips, which could potentially offset the impact of the U.S.'s export embargo. Additionally, Nvidia's development of CPUs for Microsoft's Windows could further strengthen their partnership.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50