Tilted Brush Stroke

What Caused Today's Small Gain in Nvidia Stock?                                                             

• Meta Platforms said on its previous quarterly results call that it is increasing capital expenditures on artificial intelligence (AI) infrastructure, which may benefit Nvidia.

· The semiconductor stock then increased 2.9% as of 2:34 PM ET.                                                 

· The stock of Meta was negatively impacted by its most recent quarterly results, while today's increase in Nvidia's shares was aided by management's remarks about investing in AI data centres.

· On the company's third-quarter results call yesterday, Meta's chief financial officer, Dave Wehner, remarked.

· Our forecast for capital spending in 2023 is $34 billion to $39 billion.                                                           

· because of the money we've invested in servers, data centres, and network infrastructure.                                                            

· Virtually all of our increases in capital expenditures in 2023 will be due to an expansion in AI capability.

· Nvidia values its relationship with Meta.                                                                                         

· The collaboration between the two businesses to construct a sizable AI supercomputer utilising Nvidia's data-center architecture was first revealed in January.

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