NVDA stock breaches $450 on slowing US inflation, Recursion deal
Balita ng Ethereum ng Bitcoin NVDA advances above $450 to a new all-time high on Thursday. The AI tech leader has invested in biotech firm Recursion for drug discovery. NASDAQ 100 rebalancing will cause major selling of NVDA stock. June CPI is clearly bullish for NVDA and the general market. Nvidia (NVDA), the mega-tech supplier of artifical intelligence hardware and software, saw its stock rise more than 3.5% on Thursday, reaching above the psychological $450 level for the first time ever. Lower-than-expected inflation data from the US further fueled the stocks rally as it diminished chances of more aggressive tightening from the US Federal Reserve, generally a negative for the rate-sensitive stock market. Nvidia‘s gains came after the company announced a substantial investment into a biotech company called Recursion which is utilizing artificial intelligence (AI) on Nvidia’s platform for new-drug discovery. Additionally, SoftBank has courted Nvidia to become an anchor investor in the coming Arm IPO. Nvidia attempted to acquire Arm two years ago. The NASDAQ Composite has increased by 1% in the first half-hour of trading. Nvidia stock news: Recursion investment excites, but NASDAQ 100 rebalance spells selling pressure Nvidia announced an interesting $50 million investment in biotech firm Recursion Pharmaceuticals (RXRX) on Wednesday. The company will