Nvidia's stock has climbed as Wall Street bets on A.I. Why investors say its promise is worth the premium

Wall Street in recent weeks can't seem to stop raving about Nvidia as the investing community attempts to capitalize on the growing AI trend taking the tech sector by storm. That praise has translated to a breathtaking performance for the shares — up nearly 86% this year and on pace for their best quarter since 2001 — after a 50% tumble in 2022.

This included its CUDA Quantum software and computing platform, which can be used for programming GPUs. On the heels of the conference, Goldman Sachs called the chipmaker a "key AI enabler," while Bank of America said Nvidia's AI dominance could "reshape the existing tech industry." "Bottom line: NVIDIA continues to be 1-2 steps ahead of its competitors in accelerated computing silicon/systems, software, and ecosystems," wrote JPMorgan's Harlan Sur.

Short signal

Technology Technology Latest News, Technology Technology Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wall Street ends down with tech; investors assess bank commentsU.S. stocks ended slightly lower on Tuesday as investors weighed comments from a top U.S. regulator on struggling banks and sold shares of technology-related names after their recent strong run.
Source: Reuters - 🏆 2. / 97 Read more »