What's Going On With Nvidia Stock Monday?

Nvidia Corp NVDA remains buoyed by the ChatGPT frenzy, putting to rest concerns related to stricter U.S. AI chip regulations regarding China.

In February, Nvidia quietly acquired OmniML, a two-year-old artificial intelligence startup whose software helped shrink machine-learning models, so they could run on devices rather than in the cloud, the Information reports.

Also Read: For AI Chips, Is Nvidia The Only Game In Town? Startup Tests Another Viable Option

The acquisition could also hint at Nvidia's desire to improve its separate AI chips for cars, industrial robots, and drones. 

The startup's engineers could also help shrink the AI software that powers ChatGPT and other AI services.

The stock has gained close to 200% YTD and was the first among its counterparts to join the trillion-dollar valuation club in 2023.

Last week, DeepMind co-founder's Inflection AI startup bagged $1.3 billion in funding from Microsoft Corp MSFT and Nvidia.

With Nvidia joining its investment round, the startup claimed access to 22,000 Nvidia H100 GPUs, costing $40,000 apiece. 

Also, Daiwa Capital and Raymond James analysts expressed confidence in the chipmaker's moat in sync with its CFO, Colette Kress, despite the U.S. government's aggressive export controls.

Price Action: NVDA shares were trading 0.56% at $425.40 on the last check Monday.

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