Amid concerns that the price of Nvidia (NASDAQ: NVDA) stock has reached its top and will not go any higher any time soon, the artificial intelligence (AI) chipmaking titan's CEO Jensen Huang has continued to sell his company's shares, surpassing $711 million in value since June.
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NVIDIA has been one of the most remarkable stock stories, with triple-digit growth in both revenue and net income.
24/7 Wall St. Insights While announcing upcoming products, Nvidia Corp.
Bernstein continues to like Nvidia and Broadcom shares as top semiconductor picks, even as the sector has shed most of its year-to-date outperformance relative to the S&P 500.
Nvidia's CEO recently said that the demand for its AI chips is so high that it creates emotional customers.
Taiwan Semiconductor Manufacturing Co. shares rose on Thursday after Nvidia CEO Jensen Huang called the chip maker "the world's best."
During the September 11 trading session, technology giant Nvidia (NASDAQ: NVDA) once again proved its status as the barometer of the stock market sentiment.
Nvidia's Q2 revenue grew by 122% year over year to $30 billion, blowing the company's forecast out of the water. Nearly half of that revenue came from just four unnamed customers.
Nvidia has rapidly become the dominant provider of graphics processing units (GPUs) used in artificial intelligence (AI)-driven data centers. Next-big-thing technologies have a checkered past on Wall Street.
Huang told Goldman Sachs' David Solomon that demand for Nvidia's chips is so high that some customers are getting "emotional."
Nvidia Corp. NVDA shares jumped over 8% on Wednesday, taking the broader market and the tech sector higher along with them, and two experts weighed in on Nvidia-led recovery.