Today’s Top Stock Stories: What Nvidia, PG&E, GameStop and Oil Prices Are Doing Right Now
TLDR
- Nvidia is investing $3.5 billion in MediaTek through convertible bonds to expand its AI ecosystem
- Oil prices rose over 2% above $90 a barrel after U.S. forces struck Iranian targets
- PG&E fell around 18% on renewed wildfire liability concerns in California
- GameStop rose despite forecasting a drop in quarterly revenue to between $780 million and $800 million
- Broadcom earnings and Friday’s jobs report are the next major market events to watch
Wall Street kicked off the week with several big stock moves and fresh geopolitical tension shaking energy markets.
Nvidia Expands AI Reach With MediaTek Deal
Nvidia is investing $3.5 billion in MediaTek through convertible bonds. The deal will let MediaTek customers access Nvidia’s NVLink Fusion technology.
The two companies are also working together on AI PCs, automotive systems and data-center chips.
This is part of a broader Nvidia strategy to grow beyond selling GPUs. The company has been using partnerships to build a wider AI ecosystem around its technology.
… Continue reading the full article at the original source below.
This content is automatically aggregated. Full credit goes to the original publisher (coincentral.com).
