NEW YORK (dpa-AFX) – A record high for Nvidia shares (NVIDIA) at the start of trading was followed by profit-taking later on Tuesday. At times the paper reached a record above the $153 mark, so that the chip giant briefly took the lead from Apple in the race to become the world’s most valuable company. However, Nvidia failed to defend this status as investors began cashing in on a large scale. Most recently it fell by 5.5 percent to $141.19. Apple’s share price only fell by 0.2 percent.
Nvidia CEO Jensen Huang presented new processors at a consumer electronics trade fair in Las Vegas that are intended to secure market leadership in artificial intelligence (AI). Among other things, he presented a compact device called “Project Digits”, with which the chip company wants to make a desk-sized AI supercomputer possible. The device, priced starting at $3,000, is expected to be available from several manufacturers in May. Inside is a previously secret Nvidia chip called GB10.
Investors had already hoped for such statements the day before when they again placed large bets on AI stocks like Nvidia. Now the phenomenon has once again become apparent that after speculation about future good news, cash is cashed in as soon as it occurs. This also generally applied to the Nasdaq stock exchange, whose leading index, the NASDAQ 100, recently lost 1.5 percent on Tuesday after a solid start.
As part of his AI sketches, Nvidia boss Huang also talked about new gaming graphics chips, technology for robots and self-driving cars, and the Cosmos software, which generates realistic-looking environments for training artificial intelligence.
After all the news, analyst Vivek Arya from Bank of America reiterated the stock as his “top pick” because of the unbroken AI dominance in the hardware and software sectors. Nvidia’s reach is increasing, from the cloud to enterprises and to consumers. He believes the stock will rise to $190 and recommends buying it accordingly.
In connection with the graphics chips announced by Nvidia, Micron (Micron Technology) recently recorded an increase of 5.3 percent on Tuesday. The semiconductor manufacturer’s papers continued their rally from the previous day. Micron is supposed to supply so-called memory chips for Nvidia’s graphics processors. The day before, the shares had already jumped by more than ten percent thanks to the generally good AI run./tih/ck/he
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