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Thursday, February 2, 2023

NVIDIA Corporation (NVDA) stock is in the red in the Current Market; here is what you need to know

NVIDIA Corporation (NASDAQ: NVDA) stock is declining in the current market with no big news. NVDA stock is trading at $193.68, losing more than 1% from the previous close. NVDA stock previously closed at $195.15 with a trading volume of around 54.56 million shares.

Global Semiconductors Industry

NVIDIA Corporation (NASDAQ: NVDA) is the biggest semiconductor company globally and has an 83% market share in the industry. The company has huge margins and enjoys a steady growth in profits.

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There has been a massive increase in consumer electronic devices, which has led to the rise in the demand for semiconductors. The need for semiconductors has skyrocketed since the covid-19. Household income, user count, and the rise of AI and the internet of things are other variables that contributed to the growth of this industry.

In 2021, the worldwide semiconductor industry was estimated to be worth $550 billion. By 2028, the global semiconductor sector is expected to be valued at $820 billion, with a compound annual growth rate of 5.3 percent.

NVDA: Recent Updates

According to a recent press release from NVIDIA Corporation, the company has launched new NVIDIA Omniverse capabilities that make it simpler for game creators to exchange assets in their pipelines, organize asset libraries, collaborate, and deploy AI for character facial expression animation.

As a result of Omniverse’s AI- and NVIDIA RTX-enabled tools, developers and programmers may speed up and improve their development processes.

Kroger Co. (NYSE: KR) and NVIDIA inked a deal to use AI-enabled technologies and services to reinvent the shopping experience in the previous month.

With NVIDIA and Kroger, the nation’s biggest grocery retailer, the two companies will develop a cutting edge AI lab and demonstration facility to enhance Kroger’s freshness programs, improve shipping logistics and offer a better shopping experience in stores via digital twin simulations.

NVDA: Upcoming Events

NVDA announced recently that they would release their results for the first quarter of 2023 on May 25, 2022. The company will release Financial results at 02:00 PM PT.

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