Aug 4 – Nvidia (NASDAQ:NVDA) stock climbed 2% on Monday morning to $177, bouncing back after last week’s dip tied to disappointing jobs data. The broader market rose too, offering support to AI-related names. However, with most major tech companies having already reported earnings, investors now await Nvidia’s own update on August 27 for more direction on the AI trade.
In the meantime, attention shifts to upcoming earnings from Advanced Micro Devices (NASDAQ:AMD) and Super Micro Computer (NASDAQ:SMCI), due Tuesday. Their reports may offer a glimpse into ongoing demand for AI processors, something Nvidia leads in. Nvidia’s chips remain the top pick for training AI models.
Beyond earnings, Nvidia appears to be putting capital to work. According to a Reuters report, the company is in talks to invest in AI storage specialist Vast Data, a deal that could value the startup at up to $30 billion. Vast Data supports AI data centers by enabling efficient movement of data across processors, an area that aligns well with Nvidia’s infrastructure goals.
Broadcom (NASDAQ:AVGO) also saw gains of 1.2% in premarket trading, while AMD rose 2%, suggesting investor confidence in the AI supply chain remains strong.
This article first appeared on GuruFocus.