Company Making Strides with New Blackwell Platform
Nvidia’s stock (NASDAQ: NVDA) continued its upward trend, climbing 4.1% on the back of growing optimism from investors and customers for the new Blackwell platform. The company’s AI summit also garnered positive attention on its second day.
Image source: Getty Images.
Nvidia Expands Blackwell’s Reach
News emerged that Foxconn and Nvidia are jointly constructing Taiwan’s largest supercomputer based on the latest Blackwell platform. Foxconn is also establishing the most massive manufacturing facility globally to produce Nvidia’s GB200 Superchips in Mexico. These moves signify Nvidia’s efforts to broaden its supply chain away from Taiwan and enhance supply security, buffering against potential disruptions. Nvidia’s Bob Pette lauded Blackwell’s capabilities at the AI Summit, citing enhanced performance and energy efficiency. Wall Street’s positive outlook on Nvidia is reinforced by Cantor Fitzgerald’s endorsement and expectations of a resurgence in the stock. Furthermore, a recent $6.6 billion funding round is anticipated to spark increased investments in AI following a report by The Information.
Potential Growth Amid Declining AI Bubble Fears
Fear of an AI market bubble burst appears to be diminishing, especially with OpenAI’s valuation hitting a staggering $157 billion. The current low-interest-rate environment is expected to drive investments in AI infrastructure. Eyes are on upcoming third-quarter results from tech giants like Microsoft, Alphabet, and Tesla to gauge market movements. Nvidia’s impending quarterly report is eagerly awaited, with strong prospects for another exceptional performance. While there’s room for further growth, investors should prepare for continued stock volatility.
Seizing Lucrative Investment Opportunities
For investors seeking promising prospects, seizing opportunities like the “Double Down” stock recommendations could yield significant returns, as illustrated by Amazon, Apple, and Netflix success stories. With the issuance of “Double Down” alerts for three promising companies, investors are urged to act swiftly to capitalize on potential growth.
See 3 “Double Down” stocks »
*Stock Advisor returns as of October 7, 2024
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Microsoft, Nvidia, and Tesla. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
