HomeMarket NewsThe Resilient Rise of Nvidia Stock Amidst Market Jitters

The Resilient Rise of Nvidia Stock Amidst Market Jitters

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Nvidia Soars Despite Setback

Nvidia Corp. NVDA shares were trading higher before the opening bell on Thursday, following a pullback in the previous session caused by concerns over supply-chain constraints stemming from a powerful earthquake in Taiwan.

Nvidia assured investors its supplies from Taiwan wouldn’t be impacted by the earthquake, according to Barron’s, citing a company email.

While TSMC, Nvidia’s chip supplier based in Taiwan, initially suspended work at construction sites for inspections, it reported normalcy in existing operations.

Nvidia’s efforts to diversify its supply chain also boosted investor confidence. The company reportedly aims to source chips from TSMC’s upcoming Arizona facilities by year-end, as per Korean media.

Separately, Nvidia plans to build an AI center in Indonesia with PT Indosat Ooredoo Hutchison in 2024, as per a Reuters report.

Further bolstering the chip ecosystem, South Korea’s SK Hynix announced a $3.9 billion investment in an Indiana chip-packaging facility, while a media report noted Malaysia emerging as a rising player in semiconductor manufacturing.

The stock, which has been on a tear since 2023 due to its dominance in AI accelerator supplies, was last up 0.97% in premarket trading at $898.27, according to Benzinga Pro data.

See Also: Best Artificial Intelligence Stocks

Photo by Evolf on Shutterstock

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