Here We Go -- Again -- AVGO To Hit 52-Week High -- Recession, Stagflation, Correction? Not Today -- June 12, 2024

Locator: 47820TECH.

Market at open:

• inflation numbers excite investors; better than forecast;
• Dow jumps 300 points;
• S&P 500 hits yet another record

Heat map, live:

ORCL: link here.

From the linked article:

Nvidia was rising early on Wednesday following earnings from cloud-computing company Oracle which referenced demand for its chips as it strikes more deals to support artificial-intelligence technology in its data centers. 

Nvidia shares were up 0.2% at $121.20 in premarket trading after the stock closed down 0.7% on Tuesday. 

Nvidia’s 10-for-1 stock split took effect after Friday’s closing bell. Demand for Nvidia’s chips was emphasized by enterprise-software giant Oracle in the latter company’s own earnings report after the market closed on Tuesday. 

Oracle CEO Larry Ellison said the company was using Nvidia chips in a deal to provide additional AI training capacity for ChatGPT-developer OpenAl. 

Oracle said its capital spending is likely to double in 2025, which includes the cost of building a data center for OpenAI. 

While Oracle didn’t specify how many Nvidia chips would be used, it noted in a statement that its infrastructure for training AI models can scale up to 64,000 Nvidia Blackwell graphics-processing units or GB200 Grace Blackwell Superchips.

AVGO:

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Disclaimer Briefly Reminder

• I am inappropriately exuberant about the US economy and the US market, 
• I am also inappropriately exuberant about all things Apple. 
• See disclaimer. This is not an investment site. 
• Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.
• Reminder: I am inappropriately exuberant about the US economy and the US market, 
• I am also inappropriately exuberant about all things Apple.