MRVL - What's Going On With Nvidia Stock Friday? | Benzinga
Nvidia Corp (NASDAQ:NVDA) stock is trading higher Friday amid reports of the leading chip designer branching out to establish a new division dedicated to creating tailor-made chips for cloud computing entities and others, focusing on advanced artificial intelligence (AI) processors.
Nvidia holds approximately 80% of the high-end AI chip market, Reuters reports.
This monopoly has significantly contributed to a 40% increase in its market value, reaching $1.73 trillion in the current year, following a more than threefold increase in 2023.
Also Read: Nvidia’s Future Has More Than Meets the Eye in AI Growth: Morgan Stanley
The company’s chips, particularly the H100 and A100 models, are highly sought after by leading tech firms such as OpenAI, Microsoft Corp (NASDAQ:MSFT), Alphabet Inc (NASDAQ:GOOG) ...