Nvidia stock rallied 4.8% on positive news about strong data center revenue and new AI supercomputer.

From Nasdaq: 2024-12-18 12:32:50

Nvidia stock was in correction territory, down 12% from its recent high, but surged 4.8% in today’s trading session. Positive news items boosted the chipmaker, including strong data center revenue and Microsoft’s increased purchases of Nvidia’s chips in 2024.

Despite concerns about Nvidia’s valuation, the stock may be a good buy, trading at historical multiples and offering growth potential. With the announcement of a new affordable AI supercomputer, the company is expanding its market reach. Investors should consider the potential for growth in Nvidia stock.

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Read more at Nasdaq: Why Nvidia Stock Rallied on Wednesday