Nvidia stock rises due to Blackwell platform excitement, collaboration with Foxconn, and bullish sentiment

From Nasdaq: 2024-10-08 18:26:55

Shares of Nvidia (NASDAQ: NVDA) rose for the fifth consecutive day on Wall Street, driven by excitement over the new Blackwell platform and the ongoing AI summit. The stock closed 4.1% higher.

Foxconn and Nvidia are collaborating on Taiwan’s largest supercomputer using Blackwell components, signaling Nvidia’s diversification and supply chain security. Nvidia’s VP highlighted the Blackwell platform’s benefits at the AI Summit. Wall Street remains bullish on Nvidia’s prospects.

Fears of an AI bubble are easing, with OpenAI’s funding round boosting confidence. Third-quarter results from tech giants like Microsoft and Alphabet, plus Tesla’s robotaxi event, will provide insight. Nvidia is expected to report strong earnings next quarter, but volatility may persist.

Considerations before investing in Nvidia include advice from The Motley Fool Stock Advisor team, who recently identified 10 promising stocks excluding Nvidia. Their track record shows substantial returns compared to the S&P 500. Stock Advisor offers a proven investment strategy for long-term success.



Read more at Nasdaq: Why Nvidia Stock Popped Again Today