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Monday, October 30, 2023 9:33:29 AM
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Nvidia Corp (NASDAQ: NVDA) stock is trading higher Monday amid reports that the U.S.'s fresh artificial intelligence technology sanctions on China are not affecting the chip designer's short-term revenue.
Analysts say China represented 20% - 25% of Nvidia's data center revenues.
CNBC's Jim Cramer remains bullish on Nvidia's prospects courtesy of increasing demand from the likes of Google parent Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) and Microsoft Corp (NASDAQ: MSFT).
The stock price movement also reflects the chip designer partnering with MediaTek and utilizing the 2.5D packaging technology from CoWoS for its first processors, intensifying rivalry with Apple Inc (NASDAQ: AAPL) and Intel Corp (NASDAQ: INTC).
Meanwhile, the U.S. government released its executive order on safe, secure, and trustworthy AI for consumers, workers, and more.
The President's Executive Order introduces comprehensive measures to ensure AI safety and security, requiring developers of influential AI systems to share safety test results with the U.S. government.
The order mandates notification and sharing red-team safety test results for foundation models posing significant risks.
It establishes rigorous standards for AI system safety, introduces new standards for biological synthesis screening to prevent AI-enabled engineering of dangerous natural materials, and sets guidelines for detecting AI-generated content to protect against fraud and deception. The order also emphasizes protecting Americans' privacy, advancing equity and civil rights, supporting workers, promoting innovation and competition, advancing American leadership abroad, and ensuring responsible government use of AI.
Price Action: NVDA shares traded higher by 0.94% at $408.80 premarket on the last check Monday.
Recent NVDA News
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- NVIDIA Announces Upcoming Event for Financial Community • GlobeNewswire Inc. • 08/29/2024 09:00:00 PM
- Dow Reaches New Record Closing High But Nasdaq Edges Lower As Nvidia Slumps • IH Market News • 08/29/2024 08:37:32 PM
- Interest Rate Optimism May Overshadow Negative Reaction To Nvidia Results • IH Market News • 08/29/2024 01:06:24 PM
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- Nvidia, HP, Okta, Pure Storage Drop Post-Earnings; Salesforce, Nutanix, Affirm Surge • IH Market News • 08/29/2024 10:09:21 AM
- Nvidia Shares Fall Despite More Than Doubling Sales • IH Market News • 08/29/2024 08:36:37 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/28/2024 09:05:08 PM
- U.S. Stocks Move Mostly Lower Ahead Of Nvidia Earnings • IH Market News • 08/28/2024 08:54:04 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/28/2024 08:21:16 PM
- NVIDIA Announces Financial Results for Second Quarter Fiscal 2025 • GlobeNewswire Inc. • 08/28/2024 08:20:03 PM
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- Choppy Trading Likely To Persist On Wall Street Ahead Of Nvidia Earnings • IH Market News • 08/28/2024 01:06:43 PM
- U.S. Futures Edge Up as Nvidia Earnings Loom, Oil Prices Slide • IH Market News • 08/28/2024 09:52:22 AM
- High Volatility Expected in Nvidia Report, Ambarella Soars 20%, Hertz Strengthens Board, Apple Cuts Jobs • IH Market News • 08/28/2024 09:50:36 AM
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- NVIDIA and Global Partners Launch NIM Agent Blueprints for Enterprises to Make Their Own AI • GlobeNewswire Inc. • 08/27/2024 01:00:00 PM
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