Nvidia (NVDA) stock rose to a record high Thursday, up around 1.8%, after Bloomberg reported that the US government has approved for export several billion dollars' worth of the tech giant's chips to the United Arab Emirates.
The Commerce Department issued Nvidia its export license to the UAE after the federation solidified earlier commitments to making reciprocal investments in the US, Bloomberg reported, citing an unnamed US official. This marks the first time Nvidia has been allowed to ship its AI chips to the country since Trump became president
Nvidia stock rises 1.8% to record after US approves UAE chip exports, price target lifted to $300, AI demand drives optimism
byu/callsonreddit instocks
Posted by callsonreddit
8 Comments
$300?!!
AI not a bubble
– Prob NVIDIA
6.9 trillion dollar market cap nice
If OpenAI hadn’t just made a huge deal with AMD, I might agree with that price target. But NVDA’s valuation relies on the assumption that it will have a complete and utter monopoly for the next 10 years minimum. That’s very shaky now.
How does making another 20bil a year turn into 2 extra trillion market cap increase??
I’m so glad I sold all of my NVIDIA stock in 2021.
They probably have all the raw materials to create chips already bought, it’s difficult to compete with you don’t have it. Those chips are multipurpose too any emerging tech may use it too. And they are the only one in town
1 quadrillion next