Nvidia Shares Soar to All-Time High on News of Elon Musk's xAI's Ambitious Supercomputer Project from 100 si Watch Video

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✓ Published: 30-May-2024

Description:
Nvidia shares reached a record high of over $1,140.00 after reports that Elon Musk's AI company, xAI, will build a supercomputer requiring 100,000 semiconductors. xAI recently raised $6 billion in funding to develop products, infrastructure, and future AI technologies. The supercomputer is intended to compete with OpenAI and be operational by fall 2025. Nvidia's stock has more than doubled this year following strong earnings results. xAI may partner with Oracle to develop the supercomputer, sending Oracle shares up as well.