Nvidia Drives Israel's Economic Growth Above Forecasts

Israel's economic growth is expected to exceed forecasts this year due to the 'Nvidia effect,' according to Finance Ministry Chief Economist Shmuel Abramzon. The global chipmaker Nvidia Corp. has a significant research and development hub in Israel, which has contributed to the country's GDP figures being revised higher for the past two years.

The Nvidia effect is expected to provide a similar boost this year, with Abramzon stating that it has enabled Israel to upgrade its growth forecasts. This trend is largely attributed to the revenue generated by Nvidia's Israeli operations, which have had a significant impact on the country's economy.