Retailer traders took Nvidia' s recent sell-off as a buying opportunity, snapping up shares of the dominant artificial intelligence chipmaker amid the volatility. The cohort bought $1.8 billion worth of Nvidia shares over the past week as the Jensen Huang-led company suffered a quick pullback, according to JPMorgan data. At the single-stock level, that accounted for almost all of the $2.1 billion that retail traders spent on individual securities last week, the bank said.
Nvidia makes valuable AI graphics processing units that are being sold to Microsoft, Google, Amazon, Oracle and Meta Platforms to power their data centers and cloud services. Despite the latest decline, Nvidia has more than doubled in 2024, climbing 150% on top of last year's 239% rally. The chipmaker, which has passed a $3 trillion valuation, has become so prominent that it's now a market bellwether that can sway the direction of the entire stock market.
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Source: latimes - 🏆 11. / 82 Read more »