Nvidia (NVDA.US) and Intel (INTC.US) shares jumped over 8.0% and 5.0% respectively— after Bloomberg reported that Nvidia is exploring using Intel for manufacturing its chips. Intel is a direct competitor with Nvidia on both the CPU and GPU fronts, but CEO Huang explained that Intel and AMD have known Nvidia's secret roadmaps for years, so he isn't paranoid about sharing more information. Meanwhile, Intel CEO Pat Gelsinger during yesterday's senate hearing asked US government officials to support legislation to assist semiconductor production.
Nvidia (NVDA.US) stock rose sharply on Thursday and buyers managed to break above the upper limit of the 1:1 structure. Should current sentiment prevail,the next target for bulls is resistance at $293.00 which coincides with 61.8% Fibonacci retracement of the last downward correction. Source: xStation5
