Nvidia ( (NVDA) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Nvidia is making significant strides in the AI and data-center computing sectors, securing major deals such as a $100 billion collaboration with OpenAI and a $5 billion partnership with Intel. These strategic moves are bolstering its position as a leader in the tech industry, with expectations high for its upcoming fiscal third-quarter earnings report. Analysts are optimistic, predicting a 54% increase in earnings per share and a 56% rise in revenue compared to the previous year.
Additionally, Nvidia is positioning itself for future growth in quantum computing by developing systems that link AI GPUs with quantum processors. This forward-thinking strategy is seen as a way to establish Nvidia as a crucial player in the emerging quantum computing field. Despite some concerns about valuation and competition, Wall Street remains bullish on Nvidia, with a Strong Buy consensus and a 27% potential upside in its stock price.