Nvidia’s Soaring Value and Enthusiastic Investors Top the Week’s AI … – Bloomberg
This week, the white-hot enthusiasm for AI is generating new value in the equity markets and for strategically positioned companies, even as overall tech funding remains squeezed.
Lifting Markets
The week began with SoftBank-backed chip designer Arm Holdings Ltd. filing for its long-awaited public listing, seeding momentum for the struggling IPO market. It plans to start its roadshow the first week of September and price the IPO the following week, Bloomberg has reported.
Arm’s target valuation of $60 billion to $70 billion reflects a belief that it will benefit from the stampede toward artificial intelligence chips and generative AI. The industry shift has helped Nvidia Corp., the top maker of chips for artificial intelligence, climb over a $1 trillion market cap.
Nvidia shares soared further later in the week after it reported blowout quarterly sales and a forecast far exceeding Wall Street’s expectations, adding to the more than threefold increase in the stock this year. That…
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