What's Going On With Nvidia Stock Thursday?
Portfolio Pulse from Anusuya Lahiri
Nvidia Corp (NVDA) stock is trading lower, alongside peers AMD and supplier TSM. Microsoft's Brad Smith downplayed the near-term development of AGI, while Nvidia's CEO Jensen Huang suggested U.S. chip supply chain independence could take up to two decades. Despite this, Nvidia remains committed to China and has strengthened its chip partnership with Amazon and engaged with Chinese experts for autonomous vehicle technology. Huang also believes AGI could be developed within five years. NVDA shares fell by 3.25%.
November 30, 2023 | 6:17 pm
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NEGATIVE IMPACT
AMD's stock is also trading lower, possibly in sympathy with Nvidia's decline and due to broader concerns in the semiconductor industry.
AMD's stock movement is likely influenced by the same factors affecting Nvidia, as both companies are key players in the semiconductor space and often move in tandem.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Nvidia's stock is trading lower, potentially due to the CEO's remarks on the long timeline for U.S. chip supply chain independence and the current commitment to the Chinese market.
The stock price decline may be attributed to the CEO's comments which could be perceived as negative by investors concerned about the long-term outlook for domestic chip production and reliance on foreign markets.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
TSM's stock is trading lower, potentially due to the broader industry sentiment and its role as a critical supplier to companies like Nvidia.
As a key supplier in the semiconductor industry, TSM's stock may be impacted by the same concerns surrounding the industry's outlook and Nvidia's recent statements.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Microsoft's President downplayed the development of AGI in the near term, which could influence investor sentiment around tech companies investing in AI.
While Microsoft's comments on AGI may not directly impact its stock price, they could affect investor sentiment around the AI sector, where Microsoft is a significant player.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50
POSITIVE IMPACT
Amazon has consolidated its chip partnership with Nvidia, which could be positive for the company's ambitions in AI and autonomous vehicles.
Amazon's reinforced partnership with Nvidia is a strategic move that could benefit its position in the AI and autonomous vehicle markets, potentially positively impacting its stock.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 70