Chips made by Nvidia ( NASDAQ:NVDA ) are powering the future of cryptocurrency mining and self-driving electric automobiles. NVDA may be a titan in the gaming and data center industries, but the competition is just getting tougher. Is it a good time to purchase Nvidia stock right now?
The Latest on Nvidia Stock
Traditional automobiles powered by gasoline or diesel consume a lot fewer chips than electric vehicles do. Electric vehicles (EVs) and autonomous vehicles (AVs), often known as self-driving or driverless automobiles, present opportunities for Nvidia, which the company plans to capitalize on. Chipmaker Nvidia highlighted the fact in a blog post published on October 13 that three new Nio (NIO) electric vehicles for Europe, including Nio’s Model 3 competitor ET5, all use four Nvidia Drive Orin systems-on-a-chip to deliver high-tech features. These features will eventually include automated driving on highways.
Nvidia debuted the GeForce RTX 40 Series, a new line of graphics processing units, or GPUs, on September 23. These GPUs are designed for use by content makers as well as gamers.
After meeting its revised objectives for the second quarter of its fiscal year, the chip giant said on August 24 that it would be lowering its guidance.
The Chips for America Act was enacted by Congress in July, and it provides more than $50 billion in subsidies for domestic semiconductor manufacturers. It’s possible that chip manufacturers, like Nvidia, may gain more from this law than chip designers.
The core gaming sector and the data-center market are both a cause of concern for Nvidia right now. Chip manufacturers, in general, are confronted with a number of difficulties, including growing prices, the war between Russia and Ukraine, and Covid lockdowns in China. The most recent so...
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