Securities of chipmaker Nvidia jumped by 3.2% at trading on October 9 - up to $195.3. It became their record for the whole time of circulation on the stock exchange. Since the beginning of the year, the company's market value has increased by almost 45%. For comparison: the main U.S. stock index S&P 500 for the same period added about 14.5%.
Investors have been buying up Nvidia securities amid the fact that the U.S. has authorized the export of its chips to the UAE for several billion dollars, Bloomberg reports. This is a bilateral agreement made back in May to support the construction of data centers in the Emirates. Last week, The Wall Street reported , citing sources, that the deal had stalled and Nvidia CEO Jensen Huang was unhappy. Now, however, the licenses have been granted. According to preliminary agreements, the UAE will be able to import up to 500,000 of Nvidia's advanced AI chips per year, starting in 2025 - the deal runs through at least 2027 and can be extended through 2030.
Investors were further buoyed by the growing excitement around AI and strong reporting from Nvidia's partner, leading contract semiconductor maker TSMC, Barron's noted. Huang told CNBC on Wednesday that interest in AI technology is growing exponentially. "The demand for [Nvidia's most advanced chip] Blackwell is really high," he noted. - Ma said, "I think we're at the beginning of a new phase of infrastructure building, at the beginning of a new industrial revolution.
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