Nvidia, known for its chips used in videogames, pivoted to the data center market over the last few years. (REUTERS) AI 

What is Nvidia’s role in recent AI booms? Why are it’s shares rising?

Nvidia Corp. hit a $1 trillion market cap on Tuesday as shares continued to rise after a hearty earnings report forced Wall Street to reassess the chip industry’s potential surprises from the artificial intelligence boom. Here’s an explanation of Nvidia and its role in the rise of artificial intelligence. How big is NVIDIA by market cap? Nvidia’s $1 trillion valuation makes it the fifth most valuable US company behind Apple, Microsoft, Alphabet and Amazon. From gaming to artificial intelligence: NVIDIA’s Focus Shift Known for its chips used in video games,…

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The artificial-intelligence boom has helped Nvidia become the fifth-most valuable U.S. company by market value News 

Nvidia’s stock rose 21 percent on the sales forecast and the rise of artificial intelligence

Nvidia Corp on Wednesday forecast second-quarter revenue to beat Wall Street estimates by more than 50%, and the company said it would increase supply to meet growing demand for AI chips used to power ChatGPT and many similar services. Shares of Nvidia, the world’s most valuable publicly traded semiconductor company, jumped as much as 21% to a record $370 in extended trading. Nvidia’s rally after the bell boosted its stock market value by nearly $150 billion to more than $900 billion, adding to the Silicon Valley company’s lead as the…

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The tech-heavy Nasdaq Composite has jumped 21% this year, more than doubling the S&P 500’s 9% rise, boosted by stronger-than-expected earnings News 

Investors are looking past the US tech sector with an uncertain environment clouding the outlook

Investors are looking to the U.S. technology sector’s recovery this year for longer-term returns, as higher interest rates and an uncertain macroeconomic picture could create further headwinds, fund managers and strategists said. The technology-heavy Nasdaq Composite has jumped 21% this year, more than doubling the S&P 500’s 9% gain, boosted by better-than-expected earnings and cost-cutting by major companies and expectations of a hiking cycle for the U.S. Federal Reserve. is nearing its end. In the longer term, other sectors are likely to offer better returns at more attractive valuations, said…

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About 47 per cent of adults in the US said they used the AI chatbot ChatGPT for stock recommendations, and 69 per cent said they would consider using it in the future, a new study has shown. News 

Nearly half of US adults trust ChatGPT for stock recommendations: Report

Some 47 percent of U.S. adults said they have used AI chatbot ChatGPT for stock recommendations, and 69 percent said they would consider using it in the future, a new survey has found. According to financial and investment advisory firm The Motley Fool, about 45 percent said they would be happy to use only an AI model to pick stocks. After launching ChatGPT, it took five days to reach 1 million users and only two months to reach 100 million users. According to web analytics company SuchWeb, about 1.6 billion…

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Specifically, the 18-year-old company reported a sales drop of seven percent over one year as well as a five percent fall in subscribers News 

Chegg and Pearson Stocks Crash as AI-powered Chatbots Like ChatGPT Grow

Shares in companies that specialize in publishing school textbooks and offering online classes took a big hit on Tuesday amid signs that AI bots like ChatGPT are eating into their business. Silicon Valley-based Chegg, an education technology company that offers online homework help and textbooks, had its CEO admit Monday that the explosion of generative AI chatbots had hurt revenue. “In the first half of the year, we didn’t see a noticeable impact on our new account growth with ChatGPT and we met expectations for new signups,” Chegg CEO Dan…

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