Asian Software Stocks Surge After Nvidia Unveils New AI Models
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 5 days ago
0mins
Should l Buy NVDA?
Source: seekingalpha
- Positive Market Reaction: Asian software and IT stocks surged on Wednesday following Nvidia's introduction of a new lineup of open-source AI models, reflecting strong market confidence in the future of quantum computing, particularly with expectations that the market will exceed $11 billion by 2030.
- Surge in South Korea: Shares of several software and cybersecurity firms, including Axgate Co. and ICTK Co., briefly hit their daily trading limit of 30%, indicating investor enthusiasm for the new technology and recognition of the growth potential of these companies.
- Strong Performance in China and Japan: GuoChuang Software Co. and QuantumCTek Co. in China, along with Japan's Fixstars Corp., each saw stock prices rise by at least 8%, demonstrating widespread interest and investment willingness in quantum computing technology across the region.
- General Rise in Quantum Tech Stocks: In extended trading, Xanadu Quantum Technologies rose 4%, IonQ advanced 20%, while D-Wave Quantum and Rigetti Computing gained 5.8% and 2% respectively, indicating a growing optimism in the quantum computing sector.
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Analyst Views on NVDA
Wall Street analysts forecast NVDA stock price to rise
41 Analyst Rating
39 Buy
1 Hold
1 Sell
Strong Buy
Current: 198.350
Low
200.00
Averages
264.97
High
352.00
Current: 198.350
Low
200.00
Averages
264.97
High
352.00
About NVDA
NVIDIA Corporation is an artificial intelligence (AI) infrastructure company. The Company is engaged in accelerated computing to help solve the challenging computational problems. Its segments include Compute & Networking and Graphics. The Compute & Networking segment includes its Data Center accelerated computing and networking platforms and AI solutions and software, and automotive platforms and autonomous and electric vehicle solutions, including software. The Graphics segment includes GeForce GPUs for gaming and personal computers (PCs), and Quadro/NVIDIA RTX GPUs for enterprise workstation graphics. Its technology stack includes the foundational NVIDIA CUDA development platform that runs on all NVIDIA GPUs, as well as hundreds of domain-specific software libraries, frameworks, algorithms, software development kits (SDKs), and application programming interfaces (APIs). Its platforms address four markets, which include Data Center, Gaming, Professional Visualization, and Automotive.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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