What's Going On With Nvidia Stock Tuesday?

Nvidia Corp NVDA stock beat the broader indexes Invesco QQQ Trust, Series 1 QQQ, and SPDR S&P 500 SPY Tuesday as the artificial intelligence rally is in no mood to slow down. 

The trillion-dollar chip designer lost over 10% last month amid profit-taking. Bernstein recommended investors take profits in pricey tech stocks like Nvidia.

Also Read: Amazon's AWS and Anthropic Join Forces: A Billion-Dollar Partnership Challenging Nvidia and Microsoft in the AI Arena

The AI continues to hog the limelight, the latest being OpenAI's ChatGPT, launching verbal responses for user queries.

Also, Getty Images Holdings, Inc GETY is rolling out Generative AI by Getty Images in collaboration with Nvidia, trained solely from Getty Images' vast creative library, including exclusive premium content, with full indemnification for commercial use.

The industry is rife with reports suggesting Nvidia supplier Taiwan Semiconductor Manufacturing Company Ltd TSM is bumping orders for advanced CoWoS packaging equipment amid the influx of massive demand.

TSMC has won orders for Nvidia's next-generation AI processor called B100, which requires the foundry's 3nm process fabrication.

Also, now Nvidia targets the ad industry as the next primary chip-buying market.

Price Action: NVDA shares traded lower by 0.09% at $421.84 on the last check Tuesday.