Chip giant’s stock reaches record high after forming new alliances and preparing for CES

  • Nvidia’s stock enters record territory for the first time in nearly two months
  • Expanded partnerships in the drug-discovery space contribute to the stock’s rally
  • Nvidia to unveil new chips at CES consumer-technology conference
  • Stock surges 5.4% in afternoon trading, biggest one-day gain since August 2023
  • Nvidia announces partnerships with Amgen Inc. and Recursion Pharmaceuticals Inc.
  • Nvidia to launch three new graphics-processing units at CES

Shares of Nvidia Corp. have reached record territory for the first time in nearly two months, driven by expanded partnerships in the drug-discovery space and anticipation for the company’s upcoming product launch at the CES consumer-technology conference. The stock surged 5.4% in afternoon trading, marking its biggest one-day gain since August 2023. Nvidia announced partnerships with Amgen Inc. and Recursion Pharmaceuticals Inc., as well as the unveiling of its generative-artificial-intelligence platform for drug discovery. At CES, Nvidia is set to launch three new graphics-processing units. This stock rally has propelled Nvidia’s market capitalization to $1.28 trillion, making it one of the few U.S. companies with a 13-digit market cap.

Public Companies: Nvidia Corp. (NVDA), Amgen Inc. (AMGN), Recursion Pharmaceuticals Inc. (RXRX)
Private Companies:
Key People:

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Factuality Level: 7
Justification: The article provides information about Nvidia’s stock rally and expanded partnerships in the drug-discovery space. It mentions the company’s upcoming unveiling of new chips at the CES conference. The information seems to be based on factual events and market data. However, the article contains some unnecessary details and repetitive information, which lowers its factuality level.

Noise Level: 3
Justification: The article provides some relevant information about Nvidia’s stock rally and its partnerships in the drug-discovery space. However, it lacks depth and analysis, and mostly focuses on stock performance and upcoming product launches. It does not provide any scientific rigor or intellectual honesty, and does not explore the consequences of Nvidia’s decisions on those who bear the risks. Overall, the article contains some noise and filler content, and does not provide actionable insights or new knowledge.

Financial Relevance: Yes
Financial Markets Impacted: The article pertains to the stock market and the company Nvidia Corp.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the rally in Nvidia Corp.’s stock and its expanded partnerships in the drug-discovery space. There is no mention of any extreme event.

Reported publicly: www.marketwatch.com