Over the past two years, artificial intelligence ( AI ) has been the key trend that many investors have focused on. The amount of technological innovation with AI has caused waves among users everywhere.
The company's chips are dominant in powering AI technology but money is flowing into start-ups promising more efficient hardware.
Ooredoo earlier this week signed a partnership with Nvidia, marking the chipmaker's first large-scale entry into the Middle East market. The companies did not disclose the value of the deal.
Nvidia Corp. NVDA roared back up strongly on Tuesday after a three-session sell-off that took it to as low as $118.04 and a fund manager said the stock trajectory will likely be up and onward.
The CNN Money Fear and Greed index showed a slight decline in the overall market sentiment, while the index remained in the “Fear” zone on Tuesday.
Nvidia continues to see high demand for its upcoming Blackwell chip.
Microsoft, Amazon.com, and Google parent Alphabet have all been in the black since June 18 , while Apple and Facebook parent Meta Platforms recorded only modest declines.
CNBC's Jim Cramer on Tuesday opined about his long-standing faith in Nvidia stock, even as the company shed significant market cap this week. "I'm not going into the deep end to please those who want a market with better breadth and greater participation," he said.
Nvidia's stock slightly recovered Tuesday following a massive three-day selloff, closing up more than 6% and resecuring a more than $3 trillion market cap following the slide that ended its brief standing as the world's most valuable public company.
Nvidia Corp. shares may have entered correction territory on Monday after a three-day slide, but that still wasn't enough to scare off retail investors.
Micron Technology's earnings report could define what happens in the stock market in the coming weeks.