What's Going On With Nvidia Corporation Stock?

Nvidia Corporation NVDA shares are trading higher Tuesday as the Nasdaq rallies more than 290 points after the release of cooling inflation data this morning.

What To Know:

Nvidia's stock has closed every session in the green since Nov. 1 and is in the midst of its longest winning streak since 2016 when the stock rose for 10 days in a row. NVDA is currently up 1.99% in the session and will mark 10 consecutive days of gains if the stock closes green on Tuesday. 

On Monday, Nvidia announced the introduction of the NVIDIA HGX H200, an upgrade of its H100 chip. Nvidia's HGX H200 delivers 141GB of memory at 4.8 terabytes per second, nearly double the capacity and 2.4x more bandwidth compared with its predecessor.

"To create intelligence with generative AI and HPC applications, vast amounts of data must be efficiently processed at high speed using large, fast GPU memory," said Ian Buck, vice president of hyperscale and HPC at Nvidia.

"With NVIDIA H200, the industry's leading end-to-end AI supercomputing platform just got faster to solve some of the world's most important challenges."

According to data from Benzinga Pro, shares of NVDA are trading above the stock's 50-day moving average of 442.19 and near its 52-week high of $502.66

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NVDA Price Action: According to Benzinga Pro, Nvidia Corporation shares are up by nearly 2% at $495.86 at the time of publication.

Image: Courtesy of Nvidia Corporation