NEW YORK: Shares of Nvidia rose as much as 6.7% on Thursday (Auug 24), hitting an all-time high, after the company unveiled a US$25 billion (RM116 bil...
Shares of Nvidia rose as much as 6.7% on Thursday , hitting an all-time high, after the company unveiled a US$25 billion stock buyback plan and record quarterly revenue powered by strong demand for its artificial intelligence -focused chips.
During the session, Nvidia rose as high as US$502.66, which topped a record hit earlier this week. The first trillion-dollar chip maker’s stock is now up 223% year-to-date. Other chipmakers fell as investors focused on Nvidia. The Philadelphia Semiconductor Index lost more than 3%. Marvell Technology and Nvidia rival Advanced Micro Devices Inc each tumbled nearly 7%, while Intel dropped 4.1%.
“The entire market has been in ‘sell the news’ mode, everybody was breathlessly awaiting Nvidia’s print and guide. Clearly it was much better than expectations, but it was an incredibly crowded long, as was technology in general, given that big rally we had yesterday going into the Nvidia print and traders were primed to sell initial up moves,” he said.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nvidia fuels AI optimism with record results, US$25b buybackSAN FRANCISCO/OAKLAND: Nvidia far exceeded expectations with its quarterly revenue forecast on Wednesday (Aug 23) as an artificial-intelligence boom f...
Read more »
Giuliani surrenders in Trump’s election subversion caseThe former New York city mayor was accused of making numerous false statements about election fraud.
Read more »
New portfolios for Selangor exco, with seven new facesSHAH ALAM: Creating economic districts and nurturing the care and creative industries are among the new portfolios in Selangor’s recently-appointed executive council, according to Mentri Besar Datuk Seri Amirudin Shari.
Read more »
Scale new heights and plumb new depths with the Suunto VerticalFitness junkies who want a reliable sports watch with smartwatch capabilities will be pleased with this large-screen adventure timepiece.
Read more »
Check Out Kate Spade’s Experiential Pop-Up At Pavilion KL This WeekendKate Spade New York’s green pop-up celebrates the launch of its Fall 2023 collection, including the release of its new handbag collection, the Dakota.
Read more »
US SEC overhauls rules for US$20 trillion private fund industryNEW YORK: The US securities regulator on Wednesday (Aug 23) adopted new rules that will shine a light on private equity and hedge fund expenses and fe...
Read more »