NVIDIA stock price rises for 6 consecutive trading days
Reflecting expectations ahead of earnings announcement on the 28th
Expected to be a significant catalyst to end the summer
AMD acquires ‘ZT Systems’ for 6 trillion won
NVIDIA leading the AI chip market, closely followed by AMD,
Jensen Huang NVIDIA CEO Media Briefing – NVIDIA CEO Jensen Huang answers reporters’ questions at a global media briefing held at the Signia by Hilton Hotel in San Jose, California on March 18th. 2024.3.20, San Jose, AP News,
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, ‘NVIDIA, a major player in the artificial intelligence (AI) semiconductor market, has been rising in stock price day by day, reclaiming its position as the second largest market capitalization. The stock price surged significantly reflecting expectations ahead of the earnings announcement on the 28th. Meanwhile, AMD, a rival to NVIDIA, signaled fierce competition in the AI semiconductor market by acquiring a server manufacturing company.’,
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, ‘On the 19th (local time) at the New York Stock Exchange, NVIDIA’s stock price closed at $130.00, up 4.35% from the previous trading day. This marks a 6-day consecutive uptrend since the 12th. With a market capitalization of $319.80 billion, NVIDIA surpassed Microsoft ($313.32 billion) to take the second position in market capitalization. The gap with the top market capitalization holder, Apple ($343.45 billion), also narrowed.’,
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, ‘ MobileAdNew center ‘, ‘NVIDIA, which surged to the top position in market capitalization for the first time ever on June 18th, saw its stock price drop below $100 amid concerns such as delays in the release of the new graphic processing unit (GPU) ‘Blackwell’ and economic downturn. However, with continued positive evaluations from investment firms, the stock price has rebounded.’,
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, ‘Goldman Sachs analyst Toshiya Hari commented on NVIDIA’s stock price saying, “It remains attractive,” and expects that “although there may be short-term volatility in fundamentals due to the Blackwell release delay, confidence in NVIDIA’s performance next year will likely increase through upcoming announcements and supply chain data provided by management.” Bank of America anticipated that “NVIDIA’s earnings will serve as a significant catalyst to end the summer.”‘,
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AMD, competing with NVIDIA to enhance AI capabilities, announced on the 19th that it will acquire server manufacturing company ZT Systems for $4.9 billion (approximately 6.5 trillion won) in cash and stock. Photo shows a computer with the AMD logo displayed. 2024.08.19. Mountain View AP News,
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, ‘AMD revealed that it will acquire ‘ZT Systems,’ a server manufacturing company located in Secaucus, New Jersey. The transaction size amounts to $4.9 billion (approximately 6.5 trillion won). This acquisition is seen as a move by AMD to catch up with NVIDIA, which has dominated the global AI chip market. Following the news of the ZT Systems acquisition, AMD’s stock price closed at $155.28, up 4.52% from the previous trading day.’,
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, ‘ MobileAdNew center ‘, ‘Lisa Su, the CEO of AMD, stated, “Through this acquisition, we will significantly strengthen our data center AI systems,” adding, “We will be able to test and launch the latest AI graphics processing units (GPUs) more quickly.”’,
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, ‘ZT Systems manufactures server computers for large-scale data center companies investing heavily in AI. According to Reuters, the private company ZT Systems is known to generate annual revenues of around $10 billion.’,