What's Going On With Nvidia Stock Thursday

Nvidia Corp NVDA CEO Jensen Huang felt "perfectly safe" about its dependence on chip powerhouse Taiwan for manufacturing.
Huang responded to reporters at a technology event in Taipei when probed on the political repercussions of its reliance on the country, Reuters reports.
He confirmed diversification via multiple fabs at Taiwan Semiconductor Manufacturing Company Ltd TSM and disclosed plans to source from the TSMC fab in Arizona.
Also Read: Apple Supplier Foxconn Rides the AI Wave, Doubles Down on Server Business Amid ChatGPT Frenzy
Huang said TSMC would make his company's next generation of products while adding Nvidia would continue diversifying.
Various companies have voiced concerns about likely risks to the business from military threats by China against the democratic island of Taiwan, which Beijing claims as its own.
Huang shared plans to meet executives from TSMC and Apple Inc AAPL supplier Hon Hai Precision Industry Co Ltd HNHPF Foxconn that use AI chips on Friday.
He is yet to decide on his China visit after his Taiwan trip.
Huang also lauded TSMC's strategy of diversifying in different geographies.
Nvidia joined the club of U.S. companies with a $1 trillion market value on Tuesday, buoyed by the AI boom.
The stock, which has gained 164.3% YTD, lost close to 6% Wednesday on profit-taking.
Price Action: NVDA shares traded higher by 1.75% at $385.06 on the last check Thursday.
Photo via Wikimedia Commons