The rising popularity of cryptocurrencies also drove NVIDIA’s stock growth as the company’s graphics processing chips have been used for crypto mining. New vehicle technology, such as autonomous driving, also requires cutting-edge chips. The rapid growth of advanced gaming services, IoT and AI has raised demand for data centre capacity to handle internet traffic that needs to be powered by advanced semiconductor chips.

The global chip manufacturing industry saw rising demand from new technology trends, such as the Internet of Things (IoT) and artificial intelligence (AI). In the past two years, NVIDIA’s stock growth had been stellar, gaining 121.91% and 129.29% in 20, respectively. Three years later, the number of graphic chips companies soared to 70. When NVIDIA’s founders – Jensen Huang, Chris Malachowsky and Curtis Priem – started the company in 1993, there were more than two dozen graphics chips companies.

Its products are used in a wide variety of application markets, such as gaming, automotive infotainment systems and cryptocurrency mining. NVIDIA ( NVDA) is a leading designer of graphics processing units that improve the computing experience. But what does the recent fall to a new low mean for the NVIDIA stock predictions? NVIDIA stock analysis: Technical view NVDA stock price has been in the dumps in 2022, falling 53.26% year-to-date, as of 2 September, dragging down its market to $347.31bn, according to Companiesmarketcap.

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