Why Nvidia Stock Rallied on Wednesday
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Nvidia's stock rose by 4.4% on Wednesday, driven by strong demand for its AI processors. Alphabet's fourth-quarter report indicated a 12% revenue growth, but its cloud segment fell short of expectations. Alphabet plans to invest $75 billion in capital expenditures for data centers, which will benefit Nvidia as the main supplier of GPUs. Additionally, Microsoft announced an $80 billion investment in data centers, further supporting Nvidia's growth. With a valuation of 28 times next year's earnings, Nvidia stock is considered attractively priced.
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