Nvidia Corporation @ 2023-08-15

News Title: Tiger Cub hedge fund Coatue trims Nvidia exposure, hikes bet on Microsoft
Description: Nvidia is higher this year by 188%, but has fallen recently amid fears the stock has run up too far, too fast.
News Sentiment: 0.1375 (Slightly Positive)

NVIDIA Corporation

Sector: Technology

Industry: Semiconductors

Full Time Employees: 26196

Website: https://www.nvidia.com

Long Business Summary:

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company’s Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds. Its Compute & Networking segment provides Data Center platforms and systems for AI, HPC, and accelerated computing; Mellanox networking and interconnect solutions; automotive AI Cockpit, autonomous driving development agreements, and autonomous vehicle solutions; cryptocurrency mining processors; Jetson for robotics and other embedded platforms; and NVIDIA AI Enterprise and other software. The company’s products are used in gaming, professional visualization, datacenter, and automotive markets. NVIDIA Corporation sells its products to original equipment manufacturers, original device manufacturers, system builders, add-in board manufacturers, retailers/distributors, independent software vendors, Internet and cloud service providers, automotive manufacturers and tier-1 automotive suppliers, mapping companies, start-ups, and other ecosystem participants. It has a strategic collaboration with Kroger Co. NVIDIA Corporation was incorporated in 1993 and is headquartered in Santa Clara, California.

Basic Chart

Nvidia Corporation
Nvidia Corporation

Technical Chart

Nvidia Corporation
Nvidia Corporation

Suggested Currency Pair: USD/JPY

The suggested currency pair that might be influenced by the news is USD/JPY. The news of Coatue Management trimming its exposure to Nvidia and increasing its bet on Microsoft could potentially impact the stock prices of these companies. Nvidia, being a dominant player in the technology hardware market, has experienced a significant rise in stock price. If investors start questioning Nvidia’s valuation, it could lead to increased market volatility, potentially affecting the stock price. This volatility might influence the USD/JPY currency pair as investors may seek safe-haven in the Japanese yen (JPY) during periods of uncertainty. Furthermore, Coatue’s increased bet on Microsoft could contribute to upward momentum in the stock price, which could also impact the USD/JPY pair.

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