Shares of semiconductor giant Nvidia (NASDAQ: NVDA) closed 3.2% higher on Wednesday after analysts at New Street Research upgraded the shares to a buy rating with a $270 price target. Nvidia makes semiconductors used to power everything from video games to artificial intelligence to cryptocurrency mining. With the price of Ethereum, for example, crashing 12% over the past week, investors have worried whether demand for Nvidia's graphics processing units, repurposed for crypto mining, will hold up -- or if crypto miners discouraged by falling prices might instead dump secondhand Nvidia chips on the market, hurting sales for new chips. Read More...
Shares of semiconductor giant Nvidia (NASDAQ: NVDA) closed 3.2% higher on Wednesday after analysts at New Street Research upgraded the shares to a buy rating with a $270 price target. Nvidia makes semiconductors used to power everything from video games to artificial intelligence to cryptocurrency mining. With the price of Ethereum, for example, crashing 12% over the past week, investors have worried whether demand for Nvidia’s graphics processing units, repurposed for crypto mining, will hold up — or if crypto miners discouraged by falling prices might instead dump secondhand Nvidia chips on the market, hurting sales for new chips.
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