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Photo courtesy of Yonhap News |
[Alpha Biz= Paul Lee] NVIDIA shares surged more than 2% on July 23 (local time) following remarks from U.S. Treasury Secretary Scott Bessent indicating positive progress in trade negotiations with China, as well as Alphabet’s announcement of increased investment in artificial intelligence.
On the day, NVIDIA rose 2.25% to close at $170.78 on the New York Stock Exchange, lifting its market capitalization to $4.166 trillion. In after-hours trading, the stock continued to climb, adding another 0.84%.
Secretary Bessent stated that the U.S. is nearing a 15% tariff agreement with the EU and that negotiations with China are “going well,” boosting investor confidence in global trade stability.
Additionally, Alphabet, Google’s parent company, announced after the market close that it would invest an additional $10 billion in AI this year, bringing its total AI investment to $85 billion in 2025. This development further fueled optimism for NVIDIA, a key supplier of AI chips.
As a result, NVIDIA’s stock has soared 18% over the past month and 27% year-to-date.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
