Nvidia eyes record high, spurred by Blackwell chip, TSMC sales

Nvidia (NVDA) is within striking distance of its stock’s all-time high as it re-approaches this record mark. The chipmaker has risen over 8% in the past five trading sessions, reporting this week that its Blackwell AI chips have already sold out for the next 12 months. Seana Smith and Madison Mills review the tailwinds for the chip giant since the late summer slump that hit the tech and chip sectors. Additionally, CoreWeave — a Nvidia-backed AI GPU (graphics processing unit) startup — has received a $650 million credit line from major banks like JPMorgan Chase & Co. (JPM), Goldman Sachs (GS), and Morgan Stanley (MS). To watch more expert insights and analysis on the latest market action, check out more Catalysts here. This post was written by Luke Carberry Mogan.

AMD debuts new AI chip to lackluster Wall Street enthusiasm

Advanced Micro Devices (AMD) presented its new Instinct MI325X AI chip at its Advancing AI 2024 conference on Thursday, the semiconductor manufacturer planning to begin production by the end of 2024 and already promoting the GPU (graphics processing unit) to “exceed some of the capabilities of its rival.” In Thursday’s session, AMD stock fell by 5% despite this grand unveil. Morning Brief hosts Seana Smith and Brad Smith dissect why AMD’s AI chip presentation failed to impress Wall Street yesterday. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Luke Carberry Mogan.