Why Nvidia Stock Bounded Higher Thursday
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Nvidia's stock surged by 5.5% on Thursday, driven by strong demand for its AI processors. Positive earnings reports from Microsoft and Meta Platforms highlighted robust growth in cloud services and AI, with Microsoft exceeding revenue expectations and Meta increasing its capital expenditures for AI. Nvidia's CEO emphasized the necessity of AI adoption for competitiveness, suggesting a promising outlook for the company amidst concerns of slowing AI adoption. With a forward sales ratio of less than 26, Nvidia remains an attractive investment in the AI sector.
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