2023-03-31 11:35:53
NVIDIA is an American tech company. It’s active in video game development, professional visualization, high-performance computing and the automotive industry.
Why did the stock price grow?
The market is optimistic about NVIDIA. The AI boom is gaining momentum and the news constantly push shareholders to invest.
NVIDIA is one of the big winners in the battle of AI against big tech, as it provides computing solutions for AI.
Investors are hoping that tech stocks could recover their losses as the Fed slows down interest rate hikes. Soon, tech stocks might become more attractive compared to the financial sector, which is now storming with the market.
What’s next?
If AI technology is the gold rush, NVIDIA will provide picks and shovels. Take a look at the meteoric stock growth:
Per month 21.22%
Per quarter 56.46%
Per 6 months 93.75%
OpenAI used 10,000 NVIDIA processors to train a model of its ChatGPT generative AI chatbot. That figure may eventually increase to 30,000 as the platform develops.
The number of companies that are investing in AI development is growing, which provides an opportunity for NVIDIA to increase sales and establish market dominance.
Now might be the perfect moment to try NVIDIA stock in Olymp Trade’s Forex mode today
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