NVIDIA securities continue to grow in value. The announcement of a new AI processor only fuelled the growth.
Here's What We Know
NVIDIA announced a top processor for artificial intelligence tasks. It is called H200 and comes to replace the H100 model. Naturally, the new chip due to its high power will be prohibited for export to China.
Shares of the Californian company have been rising in price for 10 sessions in a row. The last time it was observed almost 7 years ago. During the last 10 sessions, the rate has risen by 22%, which led to an increase in NVIDIA's market capitalisation by $220 billion.
Yesterday's announcement of the H200 chip increased the stock price by another 7%. Since the beginning of the year, the stock has more than tripled in price (230%). This has made NVIDIA the best performing company in the Nasdaq 100 and S&P 500.
We'll learn more about NVIDIA's financial results next week. The company will release its report on 21 November 2023.