Nvidia Stock Soared This Week. Why There Could Be More Gains Coming Soon.
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Nvidia's stock surged 16.2% this week, rising 35% from under $100 per share three weeks ago. This increase follows new partnerships, including one with Saudi Arabia's Humain to build AI factories, and a collaboration with the UAE for a data center in Abu Dhabi. These developments alleviated concerns about slowing growth in AI chip sales. Investors anticipate further gains ahead of Nvidia's quarterly report on May 28, as major tech companies continue to invest in AI infrastructure.
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