What's Going On With Nvidia Stock Wednesday?

Nvidia Corp NVDA stock traded higher Wednesday in line with broader indexes Invesco QQQ Trust, Series 1 QQQ, and SPDR S&P 500 SPY.

Reports indicate that Microsoft Corp MSFT is scaling down its orders for Nvidia's H100 AI Chips.

The industry sources view the scaling down as a positive development rather than a trigger of demand bubble concerns.

Simultaneously, Huawei Technologies' HiSilicon chip design unit has begun shipping surveillance camera chips, signaling the company's ability to bypass around four years of stringent U.S. export sanctions, notably in chip design software. 

Another critical update that impacted Nvdia occurred during an Intel Corp INTC event where Alibaba Group Holding Limited BABA said it used Intel's newest central processors to serve chatbot technology.

CEO Pat Gelsinger emphasized the significance of Intel's technology in the burgeoning artificial intelligence (AI) computing industry during the Intel event. He stressed Intel's progress in its accelerator efforts, particularly with the Gaudi2 product line.

Meanwhile, Nvidia expanded its strategic collaboration with Infosys Limited INFY to help enterprises worldwide gain productivity with generative AI applications and solutions.

Infosys will create offerings customers can adopt to integrate generative AI into their businesses by leveraging the Nvidia AI Enterprise ecosystem of models, tools, runtimes, and GPU systems.

Additionally, Infosys plans to set up a Nvidia Centre of Excellence, where it will train and certify 50,000 of its employees on Nvidia AI technology to provide generative AI expertise to its vast network of customers across industries.

Price Action: NVDA shares traded higher by 0.20% at $436.07 on the last check Wednesday.