Artificial Intelligence (AI) Chip King Nvidia Recently Piled Into a Stock That Already Doubled Since Its IPO Earlier This Year
Nvidia (NASDAQ: NVDA) is best known as the artificial intelligence (AI) chip king at the center of the hottest sector in the stock market over the last few years. Given that the semiconductor chips Nvidia makes help power AI applications, which could radically change the world as we know it, Nvidia is one of the premier pick-and-shovel plays in the sector.However, some may not know that Nvidia also uses its own capital to invest in publicly traded stocks or late-stage start-ups. Most of the company's investments support the AI sector or have a partnership with Nvidia. Recently, Nvidia piled into a stock that's already doubled from its initial public offering (IPO) earlier this year.Even before CoreWeave (NASDAQ: CRWV) went public at the end of March, Nvidia had been an investor and owned about 5% of the company's total shares, according to CoreWeave's prospectus.Continue reading
Nvidia (NASDAQ: NVDA) is best known as the artificial intelligence (AI) chip king at the center of the hottest sector in the stock market over the last few years. Given that the semiconductor chips Nvidia makes help power AI applications, which could radically change the world as we know it, Nvidia is one of the premier pick-and-shovel plays in the sector.
However, some may not know that Nvidia also uses its own capital to invest in publicly traded stocks or late-stage start-ups. Most of the company's investments support the AI sector or have a partnership with Nvidia. Recently, Nvidia piled into a stock that's already doubled from its initial public offering (IPO) earlier this year.
Even before CoreWeave (NASDAQ: CRWV) went public at the end of March, Nvidia had been an investor and owned about 5% of the company's total shares, according to CoreWeave's prospectus.
