Why Nvidia Stock Rallied on Thursday
Shares of Nvidia (NASDAQ: NVDA) surged higher Thursday, jumping as much as 5.5%. As of 3:30 p.m. ET, the stock was still up 5%.
While general enthusiasm regarding tech stocks helped drive the stock higher, the primary catalysts that sent the semiconductor specialist higher were a major product release and a couple of bullish pronouncements by Wall Street analysts.
Nvidia announced today the debut of its GeForce RTX 4060 family of graphics processing units (GPUs). The company said, "Superpowered by AI, [its] newest GPUs provide 2x the horsepower of the latest gaming consoles." The chips are built on Nvidia's Ada Lovelace architecture and boast Deep Learning Super Sampling (DLSS) 3, which reduces the performance limitations inherent in CPUs. The graphics cards also feature third-generation ray-tracing technologies, starting at just $299.
Source Fool.com
