Nvidia Corporation (NASDAQ: NVDA) shares are trading lower by 3.37% to $196.79 Monday, on what proved to be an all-around grim trading session for the stock market. The S&P 500 retreated Monday on a bad day for the stock market, with Tesla and Nvidia, two big winners in 2023, being the biggest losers.
Jensen Huang, who cofounded Nvidia in 1993, is now worth nearly $19 billion. The chip giant has emerged as a favorite among traders, seen by many as a key driver of future growth. The Philadelphia Semiconductor Index gained more than 30% from a two-year low in mid-October, outperforming the tech-heavy Nasdaq 100 Index.
Analysts have given NVIDIA Corporation an average rating of 'Moderate Buy', based on thirty-nine ratings. The stock's consensus rating score is a 2.8, indicating analysts in general look favorably on the company's future prospects.
Advent of ChatGPT sparked increased competition among major technology firms to develop and improve AI capabilities. NVIDIA Corporation has been at the forefront of this competition, utilizing its powerful graphics processing units (GPUs) to create powerful machine learning capabilities.
NVIDIA Corporation has also been investing heavily in research and development, funding a wide range of projects and initiatives. From autonomous vehicles to healthcare, NVIDIA has been investing in a variety of industries, aiming to develop the best technologies for the future.
In addition to its investments in research, NVIDIA Corporation has also been investing in its own products, such as its gaming and data center businesses. With its powerful GPUs, the company is well-positioned for growth in the coming years.
NVIDIA Corporation has also been focusing on its core competencies, such as graphics processing and artificial intelligence. The company has been expanding its capabilities in both areas, and its investments in research and development have placed it at the forefront of the industry.
For investors seeking exposure to NVIDIA Corporation, there are several options available. investors can purchase shares of the company on the NASDAQ, or they can invest in a mutual fund or ETF which tracks the performance of NVIDIA Corporation.