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Why is NVDY Up Today After AI Demand

The YieldMax NVDA Option Income Strategy ETF (NVDY) closed up 2.25% at $24.13 on January 6, driven by a surge in Nvidia's stock, which rose 3.63% to $149.72. Nvidia's upward momentum was fueled by several factors, including anticipation of CEO Jensen Huang's keynote at the Consumer Electronics Show, where major AI-focused product announcements are expected. Additionally, Foxconn's record fourth-quarter revenue highlighted robust demand for AI hardware, benefiting Nvidia as a leading GPU supplier. The announcement of Microsoft's plan to increase AI data center investments to $80 billion in 2025 further bolstered Nvidia's outlook.