Nvidia Corp (NASDAQ:NVDA) stock beat the broader indexes Invesco QQQ Trust, Series 1 (NASDAQ: QQQ), and SPDR S&P 500 (NYSE: SPY) Tuesday as the artificial intelligence rally is in no mood to slow down.
The trillion-dollar chip designer lost over 10% last month amid profit-taking. Bernstein recommended investors take profits in pricey tech stocks like Nvidia.
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The AI continues to hog the limelight, the latest being OpenAI’s ChatGPT, launching verbal responses for user queries.
Also, Getty Images Holdings, Inc (NYSE:GETY) is rolling out Generative AI by Getty Images in collaboration with Nvidia, trained solely from Getty Images’ vast creative library, including exclusive premium content, with full indemnification for commercial use.
The industry is rife with reports suggesting Nvidia supplier Taiwan Semiconductor Manufacturing Company Ltd (NYSE:TSM) is bumping orders for advanced CoWoS packaging equipment amid the influx of massive demand.
TSMC has won orders for Nvidia’s next-generation AI processor called B100, which requires the foundry’s 3nm process fabrication.
Also, now Nvidia targets the ad industry as the next primary chip-buying market.
Price Action: NVDA shares traded lower by 0.09% at $421.84 on the last check Tuesday.
