Nvidia shares (NVDA.US) jump almost 5% today and are trading at fresh record highs above $500 area after company presented new graphics cards and Reuters report on plans to produce chips for China.
Nvidia announced three new graphics cards at the event today, with prices ranging from $599 to $999. New graphics cards are also designed to run generative AI applications. Company's chips will also be used in laptops from Dell, Acer and Lenovo.
Also today, Reuters reported that Nvidia plans to began mass production of chips designed for China in the second quarter of this year. Those will be AI chips with limited capabilities in order to comply with US export restrictions.
Taking a look at Nvidia chart (NVDA.US) at D1 interval, we can see that share price climb to new record highs after a period of sideways trading. Price broke above the $500 resistance zone today and jumped above highs from November and December 2023.
Source: xStation5
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