Nvidia Corp.’s (NASDAQ:NVDA) stock price jumped 1.37% on Thursday, closing at $130.68 per share, following two significant announcements from Microsoft.
Microsoft revealed it had hoarded 485,000 pieces of Nvidia’s “Hopper” chips this year, citing a growing demand for the company’s advanced graphics processing units (GPUs). This news boosted investor confidence that Nvidia is poised to join the AI development race alongside its new partnership with Accenture.
Accenture will adopt Agentic Artificial Intelligence (AI), a trending technology in the sector. The partnership signals Microsoft’s aggressive push into data center infrastructure, both for its own AI services and rental through Azure cloud computing.
Nvidia ranks 1st on our list of stocks that jumped yesterday. However, experts believe some AI stocks offer greater promise for higher returns, with shorter timelines. For a more promising AI stock trading below $5 times earnings, check out our report.
Note: BlackRock has listed Nvidia as one of the 30 Most Important AI Stocks.
Source: https://finance.yahoo.com/news/why-nvidia-corp-nvda-stock-143933436.html