NVIDIA Financial News

Analysts at Wedbush told investors in a note Friday that the tech year-end rally has begun.

Piper Sandler analysts raised their data center estimates for NVIDIA (NASDAQ:NVDA) for the October and January quarters ahead of the company's earnings release next week.

Investing.com-- Chinese technology stocks plummeted on Friday, with Alibaba Group (HK:9988) (NYSE:BABA) leading losses after the e-commerce giant shelved a planned IPO for its cloud unit, citing the impact of U.S. curbs on chip exports to China. 

Investing.com-- Most Asian stocks fell on Friday, cooling after marking some strong gains earlier this week, while Chinese technology stocks clocked steep losses after Alibaba flagged the impact of recent U.S. chip export curbs. 

Shares in Chinese e-commerce titan Alibaba tanked more than seven percent at the Hong Kong open Friday after the firm's surprise decision to call off part of its high-profile restructuring because of the US-China chip war. In a move that shocked investors, the Hangzhou-based tech giant said Thursday that US curbs on exports of advanced chips had forced it to call off the spinoff of its cloud computing arm. The firm's stock dived 7.13 percent soon after the starting bell in Hong Kong, tracking a collapse in its New York-listed shares. Washington has moved to bar the shipment to China of powerful chips, including those from California-based Nvidia, which are crucial to the development of artificial intelligence, on national security grounds. In one of its most wide-ranging restructurings, Alibaba said in March it planned to split the vast group into six distinct entities that would be able to separately pursue funding through public listings. But on Thursday, it called off the creation of its Cloud Intelligence arm in light of «the recent expansion of US restrictions on export of advanced computing chips». «We believe that a full spin-off of Cloud Intelligence Group may not achieve the intended effect of shareholder value enhancement,» the company said in its earnings release. «Accordingly, we have decided to not proceed with a full spin-off, and instead we will focus on developing a sustainable growth model for Cloud Intelligence Group under the fluid circumstances,» Alibaba said. Alibaba is a key player in China's expansive digital economy and the operator of a major online shopping platform. The Hangzhou-based group's performance is considered a barometer of domestic consumption, which has flagged in recent

Nasdaq managed to eke out tiny gains on Thursday while the Dow Industrial Average ended slightly lower with pressure from tech and retail bellwethers Cisco and Walmart after disappointing forecasts. Shares of Cisco Systems tumbled 9.8% as the communications and networking technology company cut its full-year revenue and profit forecasts on slowing demand for its networking equipment. Also in technology, Palo Alto Networks shares fell 5.4% after its forecast late Wednesday for second-quarter billings missed expectations. Walmart shares sank 8.1% a day after touching a record high.

As 2023 draws to a close, investors are already directing their attention to 2024, honing in on stocks anticipated to deliver robust earnings results in the first quarter of the upcoming year.

After surging nearly 20% from the beginning of the month, Nvidia (NASDAQ:NVDA) stock hit and all-time high of $499.60 before undergoing a correction on Wednesday, closing the day down 1.55%. The $500 level, which is a major psychological level, seemed to have generated profit-taking just like it did at the end of August and the beginning of September.

Nvidia is on pace to rise for a record 11th consecutive session even as at least one technical signal flashes a warning that the stock's rally is showing signs of overheating. Shares of the Santa Clara, California-based company have climbed 22% during their latest surge, adding about $220 billion in market value, according to data compiled by Bloomberg. This has propelled their relative strength index, a 0-100 gauge of bullish and bearish price momentum, above 70 on Tuesday. Such an elevated RSI level is generally considered a contrarian signal that a decline is imminent, because buying has gotten excessive.

Investing.com — The Dow closed higher Wednesda after data showed inflation continues to ease and a rally in Target pushed retailers higher following better-than-expected third-quarter results. 

OpenAI, and stave off competition from chipmakers like Intel and AMD. While Microsoft’s Azure Maia AI Accelerator has been optimized for AI- and generative AI-specific tasks, its Azure Cobalt CPU (central processing unit) is an Arm-based processor that will cater to general-purpose tasks on Microsoft Cloud. Microsoft has reportedly been working on developing an AI chip since 2019.

Microsoft on Wednesday announced a duo of custom-designed computing chips, joining other big tech firms that — faced with the high cost of delivering artificial intelligence services — are bringing key technologies in-house. Microsoft said it does not plan to sell the chips but instead will use them to power its own subscription software offerings and as part of its Azure cloud computing service.

NVIDIA's (NASDAQ:NVDA) stock continued to defy gravity Tuesday, extending gains to the tenth straight session and closing at a record high of $496.56, up 2.13%. The all-time high was $502.66, but that was reached intra-day on August 24, 2023, with shares closing at $471.59 that day.

By Svea Herbst-Bayliss

Stocks are leaping after a report on U.S. inflation sent waves of relief through Wall Street

By Sruthi Shankar and Amruta Khandekar

Nvidia (NASDAQ:NVDA) shares have continued to gain in recent days and are poised to extend gains for the 10th consecutive session, marking the company's longest winning streak in nearly seven years.

Investing.com — U.S. futures traded in a subdued manner Tuesday, with traders wary ahead of the release of the last inflation data, which could guide sentiment up to the December Federal Reserve meeting.

By Stephen Nellis

NVIDIA (NASDAQ:NVDA) continued to show its dominance in the AI space Monday by introducing its latest AI system, the HGX H200 powered by the H200 GPU.

Wedbush tech analysts believe a new tech bull market has started despite worries. They see the set-up in the sector as strong amid a «tidal wave» of AI spending.