We recently published an article entitled Why These 10 Stocks Jumped Yesterday. In this article, we are going to take a look at where Nvidia Corp. (NASDAQ:NVDA) stands against the other stocks that jumped yesterday.
Broader indices haven’t been performing very well since the Fed’s not so surprise revelation about the number of expected cuts in 2025. Nevertheless, several stocks on Thursday posted notable gains.
A close-up of a colorful high-end graphics card being plugged in to a gaming computer.
Nvidia’s stock price grew by 1.37 percent on Thursday to close at $130.68 apiece following twin news that Microsoft hoarded 485,000 pieces of Nvidia’s flagship “Hopper” chips this year, while also clinching a new partnership with Accenture to kickstart the latter’s adoption of Agentic Artificial Intelligence (AI), one of the hottest new trends in the AI sector.
With demand beating supply of Nvidia’s most advanced graphics processing units, Microsoft’s hoard boosted investor confidence that the company is set to join the race in building the next generation of AI.
Microsoft—which poured in a total of $13 billion in OpenAI—has been the most aggressive among the US’ biggest technology companies in building out data center infrastructure, both to run its own AI services and rent out to customers through the Azure cloud computing business.
Overall NVDA ranks 1st on our list of the stocks that jumped yesterday. While we acknowledge the potential of NVDA as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.