Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

Why Nvidia Stock Rallied on Wednesday

TheMotleyFool

0 0

Why Nvidia Stock Rallied on WednesdayPhoto, wide shot, wide-angle lens, Data analytics provider, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.midjourneyapi.xyz/temp/d1295d04-cceb-4f1c-be2b-32ca46621336.png

Heading into today's trading session, Nvidia (NASDAQ: NVDA) stock was officially in correction territory, having fallen more than 12% off its recent high. It was on track to erase some of those losses today, jumping as much as 4.8%. As of 11:46 a.m. ET on Wednesday, the stock was still up 3.4%.

The catalysts that sent the chipmaker and artificial intelligence (AI) specialist higher were several news items that bode well for Nvidia.

Cloud service providers have been the company's biggest customers by far, representing about 50% of its data center revenue in its fiscal 2025 third quarter (ended Oct. 27), according to chief financial officer Colette Kress.

Source Fool.com

Like: 0

NVDA

Share