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Nvidia Stock Surges Amid AI Chip Demand Despite Export Restrictions
Nvidia Stock Surges Amid AI Chip Demand Despite Export Restrictions
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BTCCSquare news:
Nvidia shares climbed 2.6% to $147.90, nearing January's record close of $149.43. The rally extends a 9% gain since May's earnings report, outpacing the S&P 500's 3.5% rise. Despite $2.5 billion in Q1 revenue losses from China export bans, analysts maintain bullish sentiment ahead of Blackwell transition.
Redburn reiterated its 'Buy' rating ahead of August earnings, while Jim Cramer noted CEO Jensen Huang's push to resume GPU sales to China. Nvidia's ability to overcome trade barriers underscores its dominance in AI hardware markets.
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