Chip stocks climb after Nvidia-OpenAI deal announcement
Global semiconductor stocks surged on Tuesday after Nvidia announced plans to invest as much as $100 billion in OpenAI – despite a warnings of an industry shortfall in the revenue needed to fund future computing power. The Nvidia-OpenAI deal will see the chipmaker put vast amounts of cash into helping build data centers, which it has called “AI factories," through a staged partnership that guarantees OpenAI first dibs on the world’s most coveted GPUs. While more details of the deal will be finalized in ...