Nvidia dominates the high-end AI market, potentially worth $600 BN

Nvidia dominates the high-end AI market, potentially worth $600 BN

Nvidia‘s AI platform dominates high-end artificial intelligence with a potential market value of $600 billion. 

In addition, the company reported a better-than-expected quarter and guidance, causing Club stock to jump 10%. 

Despite losing 50% last year, Nvidia has grown 42%.

Coterra Energy and Pioneer Natural Resources surprised the market with strong quarterly reports, leading to higher stock prices

In addition, both companies lowered their quarterly fixed-plus-variable dividends and provided softer production but higher capital expenditure guidance for 2023, echoing Devon Energy’s outlook.

The Dow and the S&P 500 are set to break their losing streaks, while the Nasdaq could achieve a back-to-back gain after a three-day run. 

The US government’s second estimate of fourth-quarter economic growth was lower than expected, while the GDP price index was revised slightly higher.

JPMorgan may follow in Wells Fargo‘s footsteps and lay off mortgage bankers as part of a shift away from the home loan business

An interview with JPMorgan CEO Jamie Dimon will air on CNBC, with Part 1 at noon ET and Part 2 on “Mad Money.”

Raymond James raised Toll Brothers‘ price target to $67 per share from $61 after the company reported an “amazing quarter.” 

In addition, Chinese tech giant Alibaba reported a better-than-expected quarter with profits attributed to cost cuts, causing its stock to rise by 6%.

Baidu received multiple price target bumps for its Chinese language search platform, leading some to question the validity of the numbers. 

However, JPMorgan is optimistic about Merck’s work with Moderna to develop a personalized skin cancer vaccine.

Etsy surprised the market with strong retention rates and growth in markets such as India and Germany

However, Cowen lowered eBay‘s price target to $46 per share from $48, citing a lack of earnings power despite a focus on growth.

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