Nvidia (NASDAQ: NVDA) stock jumped as much as 2.2% in late morning trading after the semiconductor star received some positive mentions on CNBC's Squawk Box today. As of 2 p.m. ET, Nvidia had given back about half its gains -- but what sent Nvidia stock moving higher in the first place? Interviewed on the financial news network's Squawk Box this morning, Independent Solutions Wealth Management portfolio manager Paul Meeks opined that "whether you believe in AI or VR or AR or the metaverse or whatever," one thing all of these have in common is their "voracious demand for computing power and speed" -- and if there's one thing Nvidia semiconductor chips are known for, it's speed. Read More...
American City Business Journals
Intel’s European plans emerge according to reports
Chipmaker Intel Corp. is planning its European Union expansions in France, Italy and Germany, according to a pair of reports out Thursday by Bloomberg and Reuters. The company has been announcing expansion plans all year as its new CEO Pat Gelsinger invests heavily to turn the company around and regain the technological lead that it lost to rivals in recent years. According to Bloomberg, the company is planning a research and design center in France, a test and assembly site in Italy and a wafer fabrication plant, or fab, in Germany.
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