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Tag: NVIDIA

  • Addenda Capital Inc. Has $7.44 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

    Addenda Capital Inc. Has $7.44 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

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    Addenda Capital Inc. decreased its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 31.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,573 shares of the computer hardware maker’s stock after selling 7,896 shares during the quarter. Addenda Capital Inc.’s holdings in NVIDIA were worth $7,440,000 at the end of the most recent reporting period.

    Several other hedge funds and other institutional investors have also recently modified their holdings of the company. MPS Loria Financial Planners LLC bought a new position in shares of NVIDIA in the 2nd quarter valued at about $500,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its holdings in shares of NVIDIA by 12.1% in the 2nd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 1,145 shares of the computer hardware maker’s stock valued at $484,000 after acquiring an additional 124 shares in the last quarter. Insight Folios Inc bought a new position in shares of NVIDIA in the 2nd quarter valued at about $272,000. First Command Bank grew its holdings in shares of NVIDIA by 5.0% in the 2nd quarter. First Command Bank now owns 1,628 shares of the computer hardware maker’s stock valued at $689,000 after acquiring an additional 78 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. grew its holdings in shares of NVIDIA by 3.4% in the 2nd quarter. Asahi Life Asset Management CO. LTD. now owns 6,135 shares of the computer hardware maker’s stock valued at $2,595,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 64.79% of the company’s stock.

    NVIDIA Stock Up 2.2 %

    Shares of NVDA opened at $468.06 on Thursday. The firm has a 50 day simple moving average of $449.15 and a two-hundred day simple moving average of $389.96. The company has a market cap of $1.16 trillion, a P/E ratio of 113.06, a P/E/G ratio of 3.52 and a beta of 1.76. NVIDIA Co. has a one year low of $108.13 and a one year high of $502.66. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.37.

    NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.62. The firm had revenue of $13.51 billion for the quarter, compared to analysts’ expectations of $11.19 billion. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The company’s revenue was up 101.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 earnings per share. Research analysts forecast that NVIDIA Co. will post 9.54 EPS for the current fiscal year.

    NVIDIA Dividend Announcement

    The business also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were paid a dividend of $0.04 per share. The ex-dividend date was Wednesday, September 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is presently 3.86%.

    Insiders Place Their Bets

    In related news, CEO Jen Hsun Huang sold 29,688 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total value of $13,478,648.88. Following the sale, the chief executive officer now owns 7,918,875 shares of the company’s stock, valued at $3,595,248,438.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Jen Hsun Huang sold 29,688 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $454.01, for a total value of $13,478,648.88. Following the sale, the chief executive officer now owns 7,918,875 shares of the company’s stock, valued at $3,595,248,438.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 21,500 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the completion of the sale, the director now directly owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,232 shares of company stock valued at $67,606,089. 3.99% of the stock is currently owned by insiders.

    Wall Street Analysts Forecast Growth

    Several brokerages have recently weighed in on NVDA. Mizuho raised their price objective on NVIDIA from $530.00 to $590.00 and gave the company a “buy” rating in a report on Thursday, August 24th. KeyCorp lifted their price target on NVIDIA from $670.00 to $750.00 and gave the stock an “overweight” rating in a report on Tuesday, October 3rd. Benchmark lifted their price target on NVIDIA from $475.00 to $625.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. HSBC lifted their price target on NVIDIA from $600.00 to $780.00 and gave the stock a “buy” rating in a report on Monday, August 21st. Finally, Barclays lifted their price target on NVIDIA from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $561.45.

    Get Our Latest Stock Report on NVIDIA

    About NVIDIA

    (Free Report)

    NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company’s Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

    Featured Stories

    Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDA – Free Report).

    Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

    Receive News & Ratings for NVIDIA Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for NVIDIA and related companies with MarketBeat.com’s FREE daily email newsletter.

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    ABMN Staff

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  • PS5 Finally Gets Cloud Gaming Later This Month

    PS5 Finally Gets Cloud Gaming Later This Month

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    Image: Insomniac Games / Sony

    Sony’s cloud gaming efforts are starting to ramp up. PS Plus subscribers will be able to start streaming big-name games like Spider-Man: Miles Morales and the Resident Evil 4 remake directly to their PlayStation 5s in the coming weeks. The company also hints that PS5 cloud gaming might be coming to other devices, like smartphones, at some point in the future.

    Thank You, PS Plus, For Making My Backlog Even Bigger

    “Starting this month, we will begin launching cloud streaming access for supported PS5 digital titles within the PlayStation Plus Game Catalog and Game Trials, as well as supported titles in the PS5 game library that PlayStation Plus Premium members own,” the company wrote over on the PlayStation Blog today. This new feature goes live in North America around October 30, and will be exclusive to the Premium tier of PlayStation Plus, which is now $18 a month or $160 a year (Sony raised the price last month).

    Though remote play, which allows PS5 owners to stream games from their console to smartphones and PCs, has been around for a while, this new cloud gaming feature will let paying subscribers stream games to their PS5s from Sony’s servers and play them without downloading. Here are some of the games Sony said will support cloud gaming at launch, with more being added later on:

    • Marvel’s Spider-Man: Miles Morales
    • Horizon Forbidden West
    • Ghost of Tsushima
    • Mortal Kombat 11
    • Saints Row IV
    • Resident Evil 4
    • Dead Island 2
    • Genshin Impact
    • Fall Guys
    • Fortnite

    Game trials will also be available to stream, including Hogwarts Legacy, The Witcher 3: Wild Hunt, and The Callisto Protocol. Streamed games will support resolutions ranging from 720p up to 4K, as well as 60fps and HDR output where applicable. Players can also take screenshots and record video clips up to three minutes long.

    While the quality of game streaming still varies a lot, especially based on the speed of your home internet, it can be a major convenience when it comes to trying games out before starting a lengthy install process or quickly dipping into a live-service game like Destiny 2 to finish a daily or weekly challenge. As blockbuster game file sizes have ballooned to over 100GB, juggling installs has become an annoying minigame in and of itself. Cloud streaming is one way to alleviate some of the frustration.

    Cloud gaming of most of the Game Pass library has been widely available on Xbox Series X/S and Xbox One for years now, and competing services like Nvidia’s GeForce Now provide the same functionality on PC. It’s nice to see Sony finally catching up in that regard. As The Verge reported earlier this year, the company’s job listings point to a major new push to invest in and grow its cloud gaming capabilities. PS5 owners appear to finally be seeing some of the benefit of that.

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    Ethan Gach

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  • Pacific Sage Partners LLC Has $575,000 Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

    Pacific Sage Partners LLC Has $575,000 Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

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    Pacific Sage Partners LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 2.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,360 shares of the computer hardware maker’s stock after acquiring an additional 34 shares during the period. Pacific Sage Partners LLC’s holdings in NVIDIA were worth $575,000 as of its most recent filing with the SEC.

    Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of NVIDIA during the fourth quarter worth $3,900,874,000. Moneta Group Investment Advisors LLC boosted its position in shares of NVIDIA by 160,446.3% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock worth $2,862,392,000 after purchasing an additional 19,574,443 shares in the last quarter. GQG Partners LLC bought a new position in shares of NVIDIA during the first quarter worth $2,290,856,000. Price T Rowe Associates Inc. MD boosted its position in shares of NVIDIA by 9.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock worth $8,323,694,000 after purchasing an additional 5,043,685 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of NVIDIA by 20.2% during the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after purchasing an additional 4,621,002 shares in the last quarter. Institutional investors and hedge funds own 64.79% of the company’s stock.

    Insider Buying and Selling at NVIDIA

    In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $471.55, for a total value of $13,999,376.40. Following the completion of the sale, the chief executive officer now owns 7,800,125 shares of the company’s stock, valued at approximately $3,678,148,943.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $471.55, for a total value of $13,999,376.40. Following the completion of the sale, the chief executive officer now owns 7,800,125 shares of the company’s stock, valued at approximately $3,678,148,943.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 4,980 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the completion of the sale, the chief financial officer now directly owns 499,428 shares of the company’s stock, valued at approximately $230,106,456.72. The disclosure for this sale can be found here. Insiders sold 145,232 shares of company stock valued at $67,606,089 in the last quarter. Company insiders own 3.99% of the company’s stock.

    NVIDIA Stock Up 2.4 %

    Shares of NVDA opened at $457.62 on Friday. NVIDIA Co. has a 52 week low of $108.13 and a 52 week high of $502.66. The firm has a market cap of $1.13 trillion, a P/E ratio of 110.54, a price-to-earnings-growth ratio of 3.47 and a beta of 1.76. The firm’s 50-day simple moving average is $449.07 and its 200 day simple moving average is $385.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.37 and a current ratio of 2.79.

    NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.62. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The business had revenue of $13.51 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same quarter in the prior year, the business earned $0.32 EPS. NVIDIA’s quarterly revenue was up 101.5% on a year-over-year basis. On average, analysts forecast that NVIDIA Co. will post 9.54 earnings per share for the current year.

    NVIDIA Announces Dividend

    The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Wednesday, September 6th. NVIDIA’s dividend payout ratio is currently 3.86%.

    Analysts Set New Price Targets

    NVDA has been the topic of a number of recent analyst reports. Mizuho lifted their price target on shares of NVIDIA from $530.00 to $590.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. Truist Financial boosted their price objective on shares of NVIDIA from $545.00 to $668.00 and gave the company a “buy” rating in a research report on Thursday, August 24th. Rosenblatt Securities reaffirmed a “buy” rating on shares of NVIDIA in a research report on Wednesday, September 20th. Argus boosted their price objective on shares of NVIDIA from $450.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 24th. Finally, Westpark Capital raised shares of NVIDIA from a “hold” rating to a “buy” rating and set a $690.00 price objective on the stock in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $558.95.

    Get Our Latest Report on NVIDIA

    NVIDIA Company Profile

    (Free Report)

    NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company’s Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

    Featured Stories

    Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDA – Free Report).

    Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

    Receive News & Ratings for NVIDIA Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for NVIDIA and related companies with MarketBeat.com’s FREE daily email newsletter.

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    ABMN Staff

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  • Starfield, One Month Later

    Starfield, One Month Later

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    Once a distant star on the horizon, Starfield arrived on Xbox and PC on September 6, with a five-day early access period for those who shelled out for the deluxe edition. It’s now been in the hands of gamers worldwide for a little over a month, with folks pouring over its vast world and searching every nook and cranny for loot, side quests, and more.

    This Stylish Noir-Punk Side-Scroller Is Like Celeste With Guns

    As expected, a game as massive as Starfield has a ton of stuff going on (there’s 1,000 planets, remember) so a month later, folks are still discovering all sorts of unique quirks, charms, and more than its fair share of weak points to point out, celebrate, and critique.

    Read More: 28 Things I Wish I Knew Before I Started Playing Starfield

    Whether or not Starfield will be as memorable as Skyrim or Fallout remains to be seen, but within its first month, here are some of the highlights.

    Starfield earns praise, with some caveats

    Following its announcement in 2018, the hype for Starfield was real. Promising a scale way beyond what Bethesda delivered with Skyrim and Fallout 4, Starfield would mark the first original franchise for the studio since the ‘90s and take the Bethesda RPG format to a place it’s never really been before: space.

    Read More: Starfield Isn’t The Future Of Video Games, And That’s Okay

    Since the highly anticipated game launched, the reactions have been largely positive, but there are some fair criticisms of its structure and the meat of more than a few of its premiere questlines. In Kotaku’s review of Starfield, I praised its scale, scope, and capacity for gorgeous vistas, but criticized a pervasive shallowness in the game’s settings, narratives, and woefully repetitive environments.

    In general, Starfield really hasn’t convinced us that it’s a vision for the future of games, and in fact, it seems to be little more than an iterative improvement on what Bethesda has delivered before, for decades now at this point. But whether you see that as a reliable go-to experience of the kind we know from Skyrim and Fallout or a failure to improve upon a tired formula is what makes Starfield 2023’s gaming Rorschach test.

    Read More: Starfield: The Kotaku Review

    The game currently sits at a Metacritic score of 84, sharing similar ground with well-received titles like August’s Armored Core VI, but falls quite shy of bigger blockbusters like The Legend of Zelda: Tears of the Kingdom.

    Player reviews via Steam certainly have their knives out for this Bethesda entry though, often describing the game as “disappointingly average” and “wide as an ocean – shallow as a puddle.”

    Starfield’s scale and scope finally in player hands

    It was understood early on that Starfield would be enormous. Bethesda touted the impressiveness of the game’s scale and talked at length about how the survival mechanics wouldn’t bog down the fun of Starfield’s core experience. as they do in other space games like No Man’s Sky

    Read More: A No-Fuss Guide to Starfield Space Travel

    Starfield’s reception amongst those not in the industry and casual players has also been mixed. While many of us have found a calm, contemplative beauty in the game’s endless planet simulation, others have tested just how traversable Starfield’s galaxy really is, and discovered that fast travel is technically not mandatory; you can fly across a solar system if you’ve got literal hours of real-world time on your hands to burn. And you can speed up space travel with a mod if you’re so inclined.

    The scale of each individual planetary zone you can land on, however, has brought up criticism from players concerning the jarring lack of vehicles. Bethesda explained that while it did consider vehicles, it instead wanted to prioritize the on-foot exploration experience. Besides, if you did have a space rover, you’d be in for a bumpy ride with all of the dead animals everywhere.

    Read More: Starfield’s Fast Travel Cheapens Space’s Impact

    Not everyone’s been sold on Starfield’s size and scope, or how it’s presented. That said, we have caught sight of more than a few interesting things out there in the void. From Star Trek vibes to Dead Space-esque scares, to a planet very familiar to Halo fans, to a galaxy spanning beer run, there are more than a few fun surprises to be found in Bethesda’s space sim. That’s in addition to stuff fans have created on their own, like this awesome selection of space ships from other sci-fi franchises recreated in Starfield’s ship builder. And if you don’t fancy yourself a ship mechanic, the game is more than happy to provide some pretty sweet space rides of its own, such as the Razorleaf, a reward for tackling the Mantis quest.

    And don’t forget, Starfield has some neat watering holes if you’re looking for a break from all the space-faring adventures and just want to sit in a weird space bar with a weird space bartender.

    Wacky physics, fun mods, and other shenanigans

    Starfield’s engine has a wildly impressive physics simulation. Granted, Bethesda games have always had pretty cool physics, but Starfield’s seems to be a bit more realistic and lively. This has allowed players to engage in some credit theft, but also has inspired some pseudo Rube Goldberg shenanigans. You can also just pack your ship full of junk and potatoes.

    Like almost every Bethesda game before it, modders have taken to improving the rougher edges of Starfield’s experience. We’re still collecting a list of must-install mods for the PC version, but at a minimum you should consider installing StarUI as it profoundly improves the experience of a game that’s already encouraging bad habits for the digital hoarders among us.

    Read More: Starfield PC Mod Dramatically Improves Inventory Management

    Starfield’s mod scene is still quite nascent, and we know proper mod support for Starfield is on the horizon. That said, if you’re willing to mess around with some of the less-than-helpful mods, might we interest you in the most useless modifications to toss into Starfield’s code?

    In more interesting news, one Starfield modder has taken to putting their DLSS (Nvidia’s AI-powered super-sampling tech that was excluded from Starfield’s launch due to an exclusive deal with AMD) mod behind a paywall. Now, the debate over paid mods is worth having and is not within the scope of this piece, but when you slap DRM and threaten to sneak malware onto pirated copies of a mod…that’s kinda, well shitty.

    Read More: Starfield Will Get DLSS Support, An FOV Slider, And More In Future Updates

    Hey, at least DLSS is coming to Starfield via an official update down the road.

    We’ve also seen a fair share of silliness via exploits. Yes, you can actually rob NPCs of their clothes with the right technique and, at least for a little while, the game featured a damn mud puddle that’d just make it rain credits (it’s since been patched).

    And in case you’re wondering, yes, Starfield has its share of bugs. I’ve seen a number of quest-breaking errors in my time with the game, while others are finding entire cities transported along with their ships. If my own nearly 200-hour playthrough of the game is anything to go by, save often, don’t rely on auto- and quick-saves. Starfield likes to break more often than it should.

    Starfield is just getting started: DLC and more

    Even after spending nearly 200 hours in Starfield, I’m still coming across new things. My opinion of it holds strong, but it’s nice to see such a large game continue to offer new experiences the more you play it.

    As Video Games Chronicle pointed out, director Todd Howard stated in a recent interview that experience with previous games like Skyrim and Fallout has taught the studio to design with long-term investment in mind:

    “This is a game that’s intentionally made to be played for a long time. One of the things we’ve learned from our previous games, like Skyrim, like Fallout, is that people want to play them for a very long time. […] How do we build it such that it is allowing that in a way that feels natural, and if people have played the game and finished the main quest, you can see that.”

    The new game plus function is one of the most unique, and dare I say inventive, elements of Starfield. But Bethesda has indicated that certain elements of the game might change over time. We know that proper DLSS support and request features like an FOV slider are in the cards, but in the same interview, Todd Howard said that the studio might be looking at changing up how environmental damage works. In 2022, Howard also entertained the addition of a hardcore survival mode for those who desire a more punish-me-deep-space-mommy experience.

    Read More: Starfield: Should You Rush Through The Main Quest?

    How the future of Starfield evolves beyond just repeat playthroughs remains to be seen. It’s hard to imagine the game will see the same kind of update support that No Man’s Sky has, but Howard has repeatedly stressed that this is a game that was designed to be played for a long time.

    We do know, via the details in the premium version of the game, that a story expansion titled “Shattered Space” will arrive at a later date.

    Hype and anticipation met reality when Starfield shipped universally on September 6. It’s more than capable of delivering a fun, can’t-put-it-down experience, though it has more than its fair share of problems and weaker points. The first month has seen a number of differing opinions flourish over Starfield and Bethesda-style games in general. But with promised new features, story expansions, and a growing mod community, Starfield’s story is far from over.

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    Claire Jackson

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  • Tesla, Rivian, Discover, Sphere Entertainment, Nvidia, and More Stock Market Movers

    Tesla, Rivian, Discover, Sphere Entertainment, Nvidia, and More Stock Market Movers

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    This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.

    https://www.barrons.com/articles/stock-market-movers-e5dab615

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  • Nvidia Stock Is Set for Longest Losing Streak This Year

    Nvidia Stock Is Set for Longest Losing Streak This Year

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    Nvidia Stock’s Losing Streak Keeps Going. What Happened to Wall Street’s Darling?

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  • Apple Stock Is Rising. Tech Names From Tesla to Nvidia Can Breathe a Sigh of Relief.

    Apple Stock Is Rising. Tech Names From Tesla to Nvidia Can Breathe a Sigh of Relief.

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    The fortunes of


    Apple


    the world’s largest public company, have a tendency to lead around much of the rest of the stock market. After the tech giant’s woes contributed to widespread declines last week, investors can now breath…

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  • Arm Sets Target Valuation for IPO. It’s Likely to Be the Biggest of the Year.

    Arm Sets Target Valuation for IPO. It’s Likely to Be the Biggest of the Year.

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    Arm Holdings is set for a blockbuster initial public offering which will test market appetite for an important technology company. However, its targeted valuation suggests it is accepting it won’t be the next


    Nvidia

    …

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  • Nvidia Stock Hasn’t Been This Cheap Since January, Before It Rallied 250%

    Nvidia Stock Hasn’t Been This Cheap Since January, Before It Rallied 250%

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    Nvidia Stock Hasn’t Been This Cheap Since January, Before It Rallied 250%

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  • Nvidia Plans to Buy Back Billions in Stock. Other Companies Could Join in Soon.

    Nvidia Plans to Buy Back Billions in Stock. Other Companies Could Join in Soon.

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    Nvidia Plans to Buy Back Billions in Stock. Other Companies Could Join in Soon.

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  • This Tech CEO Became $4.2 Billion Richer Overnight | Entrepreneur

    This Tech CEO Became $4.2 Billion Richer Overnight | Entrepreneur

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    Jensen Huang is having a really good week.

    On Wednesday, the CEO and co-founder of Nvidia surpassed all predictions with a Q2 revenue projection, thanks to the surge in demand for its A.I. chips. The company also announced a stock buyback of $25 billion, leading to a significant spike in its after-hours share prices.

    Earlier today, the Bloomberg Billionaires Index announced that Huang’s fortune rocketed from $38 billion to $42 billion, making the 60-year-old Taiwanese entrepreneur one of the world’s 25 richest men.

    Related: NVIDIA Wants You To Talk To Side Characters In the Virtual World and Have a Customizable Experience

    Exceeding all expectations

    Nvidia makes a fortune by manufacturing chips that execute all sorts of intricate A.I. functions such as image analysis, facial and speech recognition, and generating text for chatbots like ChatGPT.

    The New York Times recently called Nvidia “a one-stop shop for A.I. development” crediting their success with banking on the A.I. boom earlier than everyone else (at least 10 years ago).

    How dominant is the company? Research firm Omdia reported that Nvidia sold 70 percent of all A.I. chips sales in 2022, and the company continues to be a market leader in training generative A.I. models. Basically, Nvidia has a near-monopoly on the computing systems that power services like ChatGPT.

    On Wednesday, Nvidia achieved almost legendary status after it announced its reported revenue of $13.51 billion, a 101% jump from last year. Analysts had expected revenue to come in at $11.04 billion, according to Yahoo.

    Who is billionaire Jensen Huang?

    Known for his black leather jacket, Huang is now the world’s richest semiconductor entrepreneur in the world. His latest earnings put him only $300 million behind TikTok founder Zhang Yiming.

    Huang founded NVIDIA in 1993 when it was a PC graphics company. The company eventually helped build the gaming market into the monster it is today with the invention of the GPU, which makes modern computer graphics possible. More recently, GPU deep learning ignited the modern AI movement — with the GPU acting as the brain of computers, robots, and self-driving cars.

    “Smart people focus on the right things,” Huang told Venture Beat in an interview.

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    Jonathan Small

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  • Nvidia’s posts record revenue | Bank Automation News

    Nvidia’s posts record revenue | Bank Automation News

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    Chipmaker Nvidia has seen demand for its data centers, AI services and graphic processing unit [GPU] rise as companies consider integrating AI into operations.   The company recorded data center revenue of $10.32 billion in the second quarter of 2023, up 141% quarter over quarter and up 171% year over year, according to its earnings […]

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    Vaidik Trivedi

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  • Half-Life 2 Will Soon Have Ray-Tracing

    Half-Life 2 Will Soon Have Ray-Tracing

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    GPU manufacturer Nvidia announced its plans to remaster, with full ray-tracing, Valve’s 2004 first-person shooter Half-Life 2 on August 22. Development will be handled by myriad Half-Life 2 mod teams, including those that made Half-Life 2: VR, united under new studio Orbifold, and it’ll be released for free.

    The Week In Games: What’s Coming Out Beyond Armored Core VI

    Half-Life 2 RTX, which “is early in development,” a blog Nvidia posted to its site says, does not yet have a release date, but it relies on the tech company’s also unreleased, free modding platform RTX Remix. Through its “latest version,” Nvidia says, Orbifold is “rebuilding materials with Physically Based Rendering (PBR) properties, adding extra geometric detail via Valve’s Hammer editor, and leveraging NVIDIA technologies including full ray-tracing, DLSS 3, Reflex, and RTX IO to deliver a fantastic experience for GeForce RTX gamers.”

    A trailer showcasing stunning improvements to environments indicates as much. But before any diehard fans get giddy about their favorite game’s makeover, it seems likely that, when Half-Life 2 RTX releases, it’ll be hard to find a PC that can handle it.

    Nvidia’s free-to-play modding project from earlier this summer, Portal: Prelude RTX, currently has a “mostly negative” review rating on Steam because of frequent crashes (and bad puzzles).

    “I figured I would give this a shot,” says a top-voted review. “I have a 13900K, a 4090 [GPU], 64 gigs of RAM, and the most recent drivers and patches. Nope, the game lasted about 10 seconds before it froze with stuttering audio.”

    But, you know, we’re talking about free mods. There are few meaningful setbacks to trying out Half-Life 2 RTX once it’s out, especially as its source material, as Riley MacLeod says with Delphic pronunciation in a 2016 Kotaku review, is “a place more than a game.”

    “It creates a player who is in control,” he writes, “who can effortlessly navigate the game world to do what they want to do, who feels confident and empowered and all the words games trip over themselves to promise us now.”

     

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    Ashley Bardhan

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  • Nvidia talks unlocking AI | Bank Automation News

    Nvidia talks unlocking AI | Bank Automation News

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    Nvidia wants to unlock new AI applications across the financial services industry as the chipmaker looks to gain more financial institution clients.   The trillion-dollar company, which offers solutions in customer experience, cybersecurity, new account acquisition, and regulatory compliance, hopes to develop generative AI uses within finance, Malcolm deMayo, global vice president of financial services […]

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    Vaidik Trivedi

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  • Nvidia, Lowe’s, Dollar Tree, and More to Watch

    Nvidia, Lowe’s, Dollar Tree, and More to Watch

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    The majority of second-quarter earnings season is over, with a handful of major technology and retail names left to report this week. Economists will be focused on any news from an annual gathering of monetary policy thinkers and practitioners in Jackson Hole, Wyoming.

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  • China is huge for chip designer Arm. That’s a risk for its new investors | CNN Business

    China is huge for chip designer Arm. That’s a risk for its new investors | CNN Business

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    Hong Kong
    CNN
     — 

    As British chip designer Arm prepares to raise about $5 billion in an initial public offering (IPO) on Thursday, its China business has become a serious point of concern.

    The SoftBank-owned firm used many pages of its IPO prospectus to warn investors of risks related to its exposure to China at a time of rising tension between Washington and Beijing over chip technology.

    Its regulatory filing last month revealed that a quarter of its sales come from China, through an unusual relationship with an entity it does not control and with which it has a complex history.

    Arm China is “an entity that operates independently of us and is our single largest customer,” the company said in its prospectus. “Neither we nor SoftBank Group control the operations of Arm China.”

    Arm, which is based in Cambridge, added that the scale of its business in China made it “particularly susceptible to economic and political risks,” which could be worsened by tensions between the country and the United States or the United Kingdom.

    The company has long been vulnerable in this area, which may have already contributed to a lower market valuation than SoftBank was expecting.

    Arm blamed an economic slowdown in China as well as “factors related to export control and national security matters” for slower growth in royalty revenues from China in its fiscal year to March. Total revenue from China did increase in that period, however.

    Royalties are hugely significant for Arm, which gets a fee from each chip developed using its products. The company relies on royalties and licensing for most of its income.

    Arm said Wednesday it priced its shares at $51 each, raising as much as $4.9 billion. The tally could rise to $5.2 billion if banks exercise an option to buy additional shares, valuing the chip designer at as much as $54.5 billion.

    That’s less than the $64 billion valuation implied when SoftBank bought a remaining 25% stake in the company from its Vision Fund unit just last month.

    Arm has declined to comment.

    Concerns about China are likely to have been “built into IPO pricing expectations already, although a worst-case scenario of increased US sanctions [or] trade restrictions probably is not,” Kirk Boodry, an investment advisor at Astris Advisory, a Japanese investment research firm, told CNN.

    Arm was publicly listed until 2016, when Japan’s SoftBank bought it for $32 billion.

    Four years later, SoftBank tried to sell Arm to Nvidia for $40 billion, in what would have been the biggest chip deal of all time. But it didn’t pass muster with global antitrust regulators, and was called off in February 2022.

    Now, Arm’s return to the stock market is being closely watched as it promises to be the biggest US IPO since 2021.

    SoftBank CEO Masayoshi Son has touted it as an AI company that could have “exponential growth,” and promised that ChatGPT-like services will eventually be offered on Arm-designed machines.

    “The value of chips, and Arm’s technology, has maybe never been more in demand from the global economy,” said Kyle Stanford, lead venture capital analyst at PitchBook.

    But Arm is a middleman in the semiconductor industry, which is a key source of tension in US-China relations. Both countries are racing to boost their prowess in the sector, and each side has recently enacted export controls aimed at limiting the other’s capacity.

    “Chip tensions will never go away,” Stanford argued. “Political and regulatory pressure is likely to increase.”

    On Tuesday, former US Securities and Exchange Commission Chairman Jay Clayton told US lawmakers that large public companies with major exposure to China should be prompted to disclose specific risks associated with the country, “and what type of scenario planning they have done in the event of abrupt decoupling.”

    Although US officials have insisted that America is not seeking to decouple from China, they have pointed to the importance of reducing its reliance on the world’s second largest economy.

    In its filing, Arm said it held just a “4.8% indirect ownership interest in Arm China,” through a 10% non-voting stake in a SoftBank-controlled entity that owns less than half of the Chinese company.

    While such convoluted corporate structures aren’t unique in China, “in my view, it is very problematic,” said Ivana Delevska, founder and chief investment officer of asset manager Spear Invest.

    “Investors of other companies are just waking up to this fact in light of increased tensions,” she added.

    Arm has had trouble with Arm China before. In its filing, it said the business has a record of late payments.

    “Although these historical issues did not have a material impact on our operations, any future failure to pay us the amounts we are owed … could have a material adverse effect on our business,” Arm said.

    Arm China has also been subject to a legal battle with its former CEO, Allen Wu.

    Since April 2022, Wu and entities effectively controlled by him have lodged several lawsuits in Chinese courts against Arm China, “seeking to challenge certain aspects of Arm China’s corporate governance and the actions of Arm China’s board of directors,” Arm said in its filing.

    As of August, the cases had been resolved in favor of Arm China, it said, but the outcome could still be appealed. potentially hurting the British firm in the future.

    That hasn’t stopped many of the biggest names in global tech from jumping on board.

    Companies including Apple (AAPL), Google (GOOGL), Nvidia (NVDA), AMD (AMD), Samsung and TSMC (TSM) have indicated interest in acting as cornerstone investors in the offering, according to a filing last week.

    Delevska said the interest reflected Arm’s strong position in the industry and had helped to prop up its overall valuation.

    “I believe it is good timing for the IPO,” she added. “Investors will just have to price in the China risk.”

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  • Taiwan’s Foxconn to build ‘AI factories’ with Nvidia | CNN Business

    Taiwan’s Foxconn to build ‘AI factories’ with Nvidia | CNN Business

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    Taipei
    CNN
     — 

    Taiwan’s Foxconn says it plans to build artificial intelligence (AI) data factories with technology from American chip giant Nvidia, as the electronics maker ramps up efforts to become a major global player in electric car manufacturing.

    Foxconn Chairman Young Liu and Nvidia CEO Jensen Huang jointly announced the plans on Wednesday in Taipei. The duo said the new facilities using Nvidia’s chips and software will enable Foxconn to better utilize AI in its electric vehicles (EV).

    “We are at the beginning of a new computing revolution,” Huang said. “This is the beginning of a brand new way of doing software — using computers to write software that no humans can.”

    Large computing systems powered by advanced chips will be able to develop software platforms for the next generation of EVs by learning from everyday interactions, they said.

    “Foxconn is turning from a manufacturing service company into a platform solution company,” Liu said. “In three short years, Foxconn has displayed a remarkable range of high-end sedan, passenger crossover, SUV, compact pick-up, commercial bus and commercial van.”

    Best known as the assembler of Apple’s iPhones, Foxconn envisages a similar business model for EVs. It doesn’t sell the vehicles under its own brand. Instead, it will build them for clients in Taiwan and globally.

    In 2021, Foxconn unveiled three EV models, including two passenger cars and a bus, for the first time. They were followed by additional models last year and two new ones — Model N, a cargo van, and Model B, a compact SUV — during Foxconn’s tech day on Wednesday.

    Its electric buses started running in the southern Taiwanese city of Kaohsiung last year, while its first electric car, sold under the N7 brand by Taiwanese automaker Luxgen, is expected to begin deliveries on the island from January 2024.

    Foxconn has entered a competitive industry.

    Global sales of EVs, including purely battery powered vehicles and hybrids, exceeded 10 million units last year, up 55% from 2021, according to the International Energy Agency. Nearly 14 million electric cars will be sold in 2023, it projected.

    Foxconn, which is officially known as the Hon Hai Technology Group, has been expanding its business by entering new industries such as EVs, digital health and robotics.

    Analysts say its entry into the EV space is a “logical diversification.”

    Smartphones are “a very saturated market already, and the room to grow in the … industry is getting [smaller],” said Kylie Huang, a Taipei-based analyst at Daiwa. “If they can really tap into the EV business, I do think that [they] could become influential in the next couple of years.”

    During last year’s tech day, Liu told reporters that the company hoped to build 5% of the world’s electric cars by 2025. It aims to eventually produce up to 40% to 45% of EVs around the world.

    But its foray into the industry hasn’t been entirely smooth.

    Last year, Foxconn bought a factory from Lordstown Motors in Ohio that used to make small cars for General Motors. That partnership ended in June, with the American car company filing for bankruptcy protection and announcing a lawsuit against Foxconn.

    Lordstown Motors accused Foxconn of “fraud” and failing to follow through on investment promises, while Foxconn dismissed the suit as “meritless” and criticized the company for making “false comments and malicious attacks.”

    Still, it’s clear Foxconn is leaning into its expanded ambitions, including hiring two new chief strategy officers for its EV and chips businesses.

    Chiang Shang-yi is a Taiwanese semiconductor industry veteran who helped TSMC become a global foundry powerhouse, while Jun Seki, a former vice chief operating officer at Nissan Motor, leads the EV unit.

    In May, Foxconn announced a new partnership with Infineon Technologies, a German company that specializes in automotive semiconductor chips, to establish a new research center in Taiwan.

    Bill Russo, founder of Shanghai-based consulting firm Automobility, said Foxconn has the advantage of coming from a consumer electronics background, which could allow it to come up with more innovative EV products compared with traditional automakers.

    “The biggest problem with legacy automakers is that they have so much sunk investment in a carryover platform, that they typically want to start not with a clean sheet of paper, but with a highly constrained set of requirements,” he said. “Those carryover technologies bring constraints to how you think about vehicles.”

    “When Tesla started, it started by saying, ‘I’m going to challenge all of that, I’m going to blow up the basic architecture of a car and simplify it greatly,’” he added.

    “I think that’s the advantage that a technology company has … And I think that’s the way Foxconn will come at this.”

    Hanna Ziady contributed to this report.

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  • Nvidia’s quarterly sales double on the back of AI boom | CNN Business

    Nvidia’s quarterly sales double on the back of AI boom | CNN Business

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    New York
    CNN
     — 

    The artificial intelligence boom continues to fuel a blockbuster year for chipmaker Nvidia.

    Nvidia’s stock jumped as much as 9% in after-hours trading Wednesday after the Santa Clara, California-based company posted year-over-year sales growth of 101%, to $13.5 billion for the three months ended in July.

    The results were even stronger than the $11.2 billion in revenue that Wall Street analysts expected. The company’s non-GAAP adjusted profits grew a stunning 429% from the same period in the prior year to $2.70 per share, also beating analysts’ expectations. GAAP stands for generally accepted accounting principles.

    Nvidia’s stock has climbed by just over 220% since the start of this year amid a surge in the popularity of and demand for artificial intelligence technology. The American chipmaker produces processors that power generative AI, technology that can create text, images and other media — and which forms the foundation of buzzy new services such as ChatGPT.

    “A new computing era has begun. Companies worldwide are transitioning from general-purpose to accelerated computing and generative AI,” Nvidia CEO Jensen Huang said in a statement, adding that the company is working with “Leading enterprise IT system and software providers … to bring NVIDIA AI to every industry.”

    “The race is on to adopt generative AI,” he said.

    Huang had said following the company’s May earnings report that the firm was ramping up its supply to meet “surging demand.”

    “Nvidia’s hardware has become indispensable to the AI-driven economy,” Insider Intelligence senior analyst Jacob Bourne said in emailed commentary. “The pressing question is whether Nvidia can consistently exceed the now-higher expectations.”

    This story is developing and will be updated.

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  • US escalates tech battle by cutting China off from AI chips | CNN Business

    US escalates tech battle by cutting China off from AI chips | CNN Business

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    Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter which explores what you need to know about the country’s rise and how it impacts the world.


    Hong Kong/Washington
    CNN
     — 

    The Biden administration is reducing the types of semiconductors that American companies will be able to sell to China, citing the desire to close loopholes in existing regulations announced last year.

    On Tuesday, the US Commerce Department unveiled new rules that further tighten a sweeping set of export controls first introduced in October 2022.

    The updated rules “will increase effectiveness of our controls and further shut off pathways to evade our restrictions,” US Commerce Secretary Gina Raimondo said in a statement. “We will keep working to protect our national security by restricting access to critical technologies, vigilantly enforcing our rules, while minimizing any unintended impact on trade flows.”

    Advanced artificial intelligence chips, such as Nvidia’s H800 and A800 products, will be affected, according to a regulatory filing from the US company.

    The regulations also expand export curbs beyond mainland China and Macao to 21 other countries with which the United States maintains an arms embargo, including Iran and Russia.

    The measures, which have affected the shares of major American chipmakers, are set to take effect in 30 days.

    The original rules had sought to hamper China’s ability to procure advanced computing chips and manufacture advanced weapons systems. Since then, senior administration officials have suggested they needed to be adjusted due to technological developments.

    Raimondo, who visited China in August, said the administration was “laser-focused” on slowing the advancement of China’s military. She emphasized that Washington had opted not to go further in restricting chips for other applications.

    Chips used in phones, video games and electric vehicles were purposefully carved out from the new rules, according to senior administration officials.

    But these assurances are unlikely to placate Beijing, which has vowed to “win the battle” in core technologies in order to bolster the country’s position as a tech superpower.

    China’s Foreign Ministry criticized the Biden administration’s new rules Monday, before they were officially unveiled.

    “The US needs to stop politicizing and weaponizing trade and tech issues and stop destabilizing global industrial and supply chains,” spokesperson Mao Ning told a press briefing. “We will closely follow the developments and firmly safeguard our rights and interests.”

    As part of ongoing dialogue established by Raimondo and other US officials with their Chinese counterparts, Beijing was informed of the impending updates, according to a senior administration official.

    “We let the Chinese know for clarity that these rules were coming, but there was no negotiation with them,” the official told reporters.

    The tech rivalry between the world’s two largest economies has been heating up. In recent months, the United States has enlisted its allies in Europe and Asia in restricting sales of advanced chipmaking equipment to China.

    In July, Beijing hit back by imposing its own curbs on exports of germanium and gallium, two elements essential for making semiconductors.

    Shares of US chipmakers fell Tuesday following the announcement of new export controls.

    Nvidia’s (NVDA) stock closed down 4.7%, while Intel (INTC) slipped 1.4%. AMD (AMD) shares ended 1.2% lower.

    In its filing, Nvidia said the rules imposed new licensing requirements for exports to China and other markets such as Saudi Arabia, the United Arab Emirates and Vietnam.

    The company said its A800 chip, which was reportedly created for Chinese customers in order to circumvent last year’s restrictions, would be among the components affected.

    However, “given the strength of demand for our products worldwide, we do not anticipate that the additional restrictions will have a near-term meaningful impact on our financial results,” Nvidia said.

    The broader US chipmaking industry is also examining the impact of the new rules.

    The Semiconductor Industry Association said in a statement Tuesday that while it recognized the need to protect national security, “overly broad, unilateral controls risk harming the US semiconductor ecosystem without advancing national security as they encourage overseas customers to look elsewhere.”

    “We urge the administration to strengthen coordination with allies to ensure a level playing field for all companies,” added the group, which represents 99% of the US chip sector.

    The measures are also being reviewed in Europe. On Tuesday, ASML, the Dutch chipmaking equipment manufacturer, said it was evaluating the implications of the rules, though it did not expect them “to have a material impact on our financial outlook for 2023.”

    During a call Wednesday about the company’s third-quarter results, ASML chief executive Peter Wennink said the updated export restrictions would affect between 10% and 15% of the firm’s sales to China.

    On Tuesday, the US Department of Commerce added 13 Chinese entities to a list of firms with which US companies may not do business for national security reasons.

    They include two Chinese startups, Biren Technology and Moore Thread Intelligent Technology, and their subsidiaries.

    The department alleges that these companies are “involved in the development of advanced computing chips that have been found to be engaged in activities contrary to US national security.”

    CNN has reached out to Biren and Moore Thread for comment.

    — Anna Cooban contributed reporting.

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  • ServiceNow Posts Strong Earnings and Adds New AI Tools. But the Stock Is Lower.

    ServiceNow Posts Strong Earnings and Adds New AI Tools. But the Stock Is Lower.

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    This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.

    https://www.barrons.com/articles/servicenow-earnings-stock-price-ef3bea69

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    ServiceNow


    posted better-than-expected results for its latest quarter and lifted its full-year outlook.

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