by winston » Wed Nov 15, 2023 8:11 am
not vested
Nvidia shares are extending gains for a 10th consecutive session, and are on pace for their longest streak of advances since a record-setting dash in December 2016, as the world’s most valuable chipmaker announced updates to its artificial intelligence processors.
The Santa Clara, California-based company has climbed about 22 per cent during the course of this latest rally, adding about US$220 billion in market value, according to data compiled by Bloomberg.
That’s as rivals are scrambling to come up with alternatives to challenge its AI dominance.
The stock has rallied about 240 per cent this year, making it the best performing component on both the Nasdaq 100 and S&P 500 indexes as the AI-driven frenzy fuelled rallies.
The latest surge comes as technology stocks rebound amid hopes that Federal Reserve interest rates have peaked.
Nvidia, which had been under pressure last month as new US rules banned the sale of its
cutting-edge AI chips to China, is scheduled to report earnings on Nov 21.
Source: Phillips
It's all about "how much you made when you were right" & "how little you lost when you were wrong"