What's Going On With Nvidia Stock On Friday?

Quick Summary:

Big Tech giants led by Microsoft Corp (NASDAQ:MSFT), Amazon.com Inc (NASDAQ:AMZN), Alphabet Inc (NASDAQ:GOOGL), and Meta Platforms Inc (NASDAQ:META), which represent over 40% of Nvidia’s revenue, have all committed to continued investment in AI infrastructure, Bloomberg reports.

Nvidia Corp (NASDAQ:NVDA) has seen its market value decline by $900 billion since its peak in June 2024, despite the ongoing surge in artificial intelligence (AI) spending.

While this drop might suggest a cooling of the AI boom that propelled Nvidia to its heights, the underlying trends tell a different story.U.S.

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Author / Journalist: Anusuya Lahiri

Category: Technology

Markets: United StatesTaiwan

Topics: NVDA US67066G1040 US38259P5089 US9229087690 BZ Data Project News AMZN IVV SMCI US0231351067 Stories That Matter TSM MSFT US4642872000 Tech Top Stories META US86800U1043 GOOGL AI Generated Stock Battles US8740391003 Benzinga US5949181045 VTI Media Briefs

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-09 @ 12:33:52 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 399 words

Reading Time: 3 minutes read

Sentences: 17 lines

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Copyright Owner: © Benzinga

News ID: 21999052

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