Nvidia is a leading developer of graphics processing units. Traditionally, GPUs were used to enhance the experience on computing platforms, most notably in gaming applications on PCs. GPU use cases have since emerged as important semiconductors used in artificial intelligence to run large language models. Nvidia not only offers AI GPUs, but also a software platform, Cuda, used for AI model development and training. Nvidia is also expanding its data center networking solutions, helping to tie GPUs together to handle complex workloads.

News in the finance world today includes the rally of chip stocks such as $SOXL, $MU, $KORU, $SNDK, and $NVDA. Starbucks announced plans to replace Microsoft's enterprise software with their own AI tools, confirming the AI boom in the industry. META announced a $9.1 billion AI data center build in Canada, following Amazon's recent $25 billion investment in AI data centers. TSM released their monthly sales report, and Nvidia is expected to retest $215 a share. Additionally, China plans to allow top AI firms to buy Nvidia's H200 chips, signaling potential growth in the AI hardware market. Goldman Sachs has added huge positions in Nvidia, and Bank of America has upgraded the stock to $350 a share.