{ }
Symbol NVDA
Name NVIDIA Corporation
Currency USD
Sector Information Technology
IndustryGroup Semiconductors & Semiconductor Equipment
Industry Semiconductors & Semiconductor Equipment
Market NASDAQ Global Select
Country United States
State CA
City Santa Clara
Zipcode 95051
Website http://www.nvidia.com
Mukesh Ambani, Chairman of Reliance Industries, praised Meta founder Mark Zuckerberg for making the Llama language open source, stating, "Zuckerberg will go down in history for doing this." This remark was made during a discussion with Nvidia's Jensen Huang in Mumbai on October 24. The Llama language, released by Meta in February 2023, is a family of autoregressive large language models, and Reliance is collaborating with Nvidia to develop AI infrastructure in India.
U.S. stocks fell as rising Treasury yields weighed on the market, with major companies like Apple and Nvidia dropping over 2%. Tesla's shares surged 12% after beating earnings forecasts, while SK Hynix reported a record profit despite slightly missing revenue expectations. Apple is exploring collaborations in China, and analysts suggest European stocks may have significant growth potential despite overall market lag.
NVIDIA's Jensen Huang announced that the highly anticipated Blackwell chips will begin shipping in the fourth quarter, with production ramping up at TSMC. These chips are set to enhance performance and efficiency in AI, data centers, and gaming, solidifying NVIDIA's GPU market leadership. The global GPU market is projected to grow from $65.3 billion in 2024 to $274.2 billion by 2029, at a CAGR of 33.2%.
NVIDIA shares experienced a setback after reaching a record high of USD 144.42, following a strong October where they gained approximately 14%. The stock is now facing resistance at the June high of USD 140.76, with potential support levels identified at USD 136.15 and USD 131.26. Further declines could lead to a significant pullback towards the June downtrend line.
Tata Consultancy Services has launched a new Nvidia business unit aimed at accelerating the adoption of artificial intelligence across various industries. This initiative will focus on designing and delivering tailored AI adoption strategies for its clients.
Nvidia CEO Jensen Huang is pursuing growth in India through partnerships with major corporations like Reliance Industries and Infosys. At an AI summit in Mumbai, he will discuss the transformative potential of AI in various sectors with industry leader Mukesh Ambani.
Nvidia's Jensen Huang engaged in a significant dialogue with Mukesh Ambani at the NVIDIA AI Summit 2024 in Mumbai, focusing on the transformative impact of AI across industries. The conversation highlighted India's emergence as a global leader in AI, emphasizing its pivotal role in shaping the future.
US stocks faced a significant downturn, with the Dow Jones Industrial Average experiencing its largest drop in over a month, influenced by rising treasury yields that dampened market sentiment. The S&P 500 and Dow both fell nearly one percent, while the Nasdaq Composite dropped 1.6 percent, marking its worst performance since early September. In contrast, Tesla shares surged after exceeding third-quarter earnings expectations, while IBM's disappointing results weighed heavily on its stock.
Stocks continued to decline, with the Dow and S&P 500 marking a third consecutive losing day. American Airlines and Southwest Airlines are set to report earnings, with American up 22% and Southwest up 13% over the past three months. In the utilities sector, Entergy and Consolidated Edison reached all-time highs, while Honeywell is next to report in a week filled with industrial earnings. Microsoft and Nvidia are also in focus, with both companies showing significant gains this year.
SK Hynix Inc. achieved a record quarterly profit of 7.03 trillion won ($5.1 billion) in the September quarter, surpassing projections of 6.9 trillion won. Revenue surged 94% to 17.6 trillion won, slightly below the expected 18.2 trillion won, driven by strong demand for memory chips linked to AI development with Nvidia Corp. processors.

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