The company formerly known as Facebook, Meta Platforms (NASDAQ: FB), just unveiled details for its new AI Research SuperCluster (RSC). It's a massive supercomputer housed in a data center, and once it's fully constructed in mid-2022, it will be the world's most powerful (at least as far as we know, based on publicly announced supercomputer projects). It's no surprise this was a joint press release with Nvidia (NASDAQ: NVDA). Read More...
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Why Nvidia Stock Popped Today
Volatile Nvidia (NASDAQ: NVDA) stock, which has suffered through more down days than up days so far this year, is having a rare green day on Friday, as shares of the semiconductor giant inch up 2.1% as of 12:10 p.m. ET. First and foremost, at a recent P/E ratio of 70, Nvidia stock — while far from cheap — nonetheless costs a whole lot less than it did as recently as just late last year, when shares of the graphics chips specialist were regularly changing hands for 90 times earnings and up. At the same time, investors in Nvidia still have a few weeks to wait before Nvidia delivers its next batch of earnings news on Feb. 16.
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