22/7/2024, 5:13:02 pm

Analyst puts Nvidia stock on watch; report points to new China chip

Nvidia shares rose as investors focused on the company's new China-focused AI chip and a bullish endorsement from a key analyst. The chipmaker has re-tooled three chips for the China market, avoiding US sanctions. China accounted for $10.4 billion in revenues last year, down from previous years due to export restrictions. A Citi analyst reiterated a "buy" rating and $150.00 price target.