In 2023, Wall Street delivered an exceptional performance. The Dow Jones Industrial Average reached record highs, and the S&P 500 and Nasdaq Composite surged by 24% and 43%, respectively. The emergence of a new bull market is attributed to the success of growth stocks.
Among the “Magnificent Seven,” Nvidia (NASDAQ: NVDA), a semiconductor company, has outperformed, with its shares soaring by over 327% in less than 13 months, adding more than $1 trillion in market value.
Image source: Getty Images.
Headwinds are mounting for Nvidia
Nvidia’s outperformance is a reflection of the company becoming the infrastructure backbone of the artificial-intelligence (AI) movement. The company’s A100 and H100 graphics processing units (GPUs) are expected to account for up to 90% of the GPUs being put to…
2024-02-01 05:21:00
Article from finance.yahoo.com
