Stocks
NVIDIA Stock Surges 2.9% on Positive Sentiment and Amazon's AI Demand Boost
NVIDIA's stock price rose by 2.9% on Friday, reaching $200.75 in mid-day trading.
The company traded approximately 138 million shares, a decline of 15% from its average daily volume.
This increase comes as Amazon reinforced AI demand by raising its capital-expenditure forecast and downplaying competition with NVIDIA's products.
Additionally, Chinese AI company Moonshot reportedly has an Alibaba computing agreement involving around 20,000 NVIDIA chips, suggesting potential demand in China despite regulatory and geopolitical constraints.