Nvidia Corp (NASDAQ:NVDA) stock is trading in a volatile session on Friday as it continues to lead the artificial intelligence race with its advanced chips.
Director Jensen Huang is preparing for his opening speech on Sunday at Taiwan’s Computex event.
CEOs of global chip companies, including Nvidia, Advanced Micro Devices Inc (NASDAQ:AMD) and Intel Corp (NASDAQ:INTC) met at the event to discuss the prospects of artificial intelligence in the birthplace of Taiwan Semiconductor Manufacturing Co (NYSE:TSM).
Meanwhile, the US has placed a temporary embargo on the export of AI chips to the Middle East, citing national security concerns.
The US government is under investigation for high volume sales to the United Arab Emirates and Saudi Arabia.
A year ago, the US issued similar restrictions on China. The embargoes are taking a toll on chip companies, including Nvidia and AMD, which have significant country exposure.
CNBC’s Jim Cramer expects Nvidia to beat Microsoft Corp (NASDAQ:MSFT) market cap powered by AI, cloud computing and data center moats.
While, according to Cramer, AMD has a lot of catching up to do to reach Nvidia’s level.
Analysts labeled Nvidia as the top AI beneficiary, backed by the Blackwell manufacturing pipeline and US Big Tech customers. The company also aims to address supply constraints related to chip-on-wafer-on-substrate (CoWoS) packaging.
Nvidia shares are up more than 192% in the past twelve months. Investors can gain exposure to the shares through Grizzle Growth ETF (NYSE:DARP) and SoFi Select 500 ETF (NYSE:SFY).
Price promotion: At last check on Friday, NVDA shares were trading 0.63% lower at $1,098.
Disclaimer: This content was produced in part using AI tools and was reviewed and published by Benzinga’s editorial staff.
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This article What’s Going On With Nvidia Stock on Friday? originally appeared on Benzinga.com
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