Nvidia shares declined by 0.50% today after reaching an all-time high. The company is rapidly growing in the AI sector, where it stays ahead of competitors. Today, Nvidia announced its exclusive partnership with India's leading business groups to establish state-of-the-art AI data center facilities in India. This move is part of Nvidia's broader strategy, which includes skill development, partnering with India Inc, and supporting the 'Make in India' initiative. These developments are crucial for Nvidia, especially as it faces export restrictions to China and other countries.
The partnership with Indian data center operator Yotta is a significant part of Nvidia's expansion in India, with Yotta planning to purchase AI chips worth $500 million, bringing its total orders with Nvidia to $1 billion. This includes nearly 16,000 of Nvidia's H100 and GH200 artificial intelligence chips by March 2025. These deals are vital for Nvidia's growth in India, a market expected to see AI adoption reach $14 billion by 2030. With India's increasing demand for AI chips and infrastructure, Nvidia is well-positioned as a key supplier in the region. Additionally, Nvidia's CEO Jensen Huang's meeting with India's Prime Minister Narendra Modi highlights the potential for India to become a significant manufacturing hub for Nvidia.
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Open account Try demo Download mobile app Download mobile appToday, Nvidia (NVDA.US) reached historic highs after breaking out of an ascending triangle formation, and now we are seeing a slow-down of the breakout momentum. Currently, the first level of support is the upper arm of the triangle at the $455 level. Given the uncertain situation in the broader stock market, it is possible that investors will want to retest this zone, in which case maintaining it will be crucial. Source: xStation 5"
Source: xStation 5
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