Why Nvidia Stock Surged Today
Nvidia (NASDAQ: NVDA) stock posted significant gains in Wednesday's trading following bullish artificial intelligence (AI) news. The company's share price closed out the day up 4.4% amid the backdrop of a 0.6% gain for the S 500 index and a 1.2% increase for the Nasdaq Composite index.
Nvidia gained ground today following the announcement of Stargate -- a new joint company formed by OpenAI, , and Softbank. The three partners have announced they will soon be investing $100 billion in U.S. AI infrastructure -- and the development bodes well for Nvidia.
At the White House yesterday, President Trump hosted OpenAI CEO Sam Altman, Oracle chairman Larry Ellison, and Softbank CEO Masayoshi Son to announce Stargate's AI infrastructure initiative. The joint venture is focused on expanding AI-focused data centers domestically. This project will kick of with an initial $100 billion investment and could see as much as $500 billion in investments over the next four years.
Source Fool.com
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