The Graniteshares 2x Short NVDA Daily ETF (NVD) closed down 6.09% to $27.74 on January 17th, as Nvidia's stock surged 3.31% to $137.99, driven by positive sentiment in the semiconductor sector. Nvidia's rise was bolstered by its retaking of the 21-day moving average, signaling potential accumulation by mutual funds, despite remaining below the 50-day moving average. The AI sector continues to show strong growth prospects, with Citi Research highlighting the ongoing expansion into 2025 and beyond. Additionally, Nvidia's position as a leader in AI technology has been reinforced by recent developments, including the U.S. Department of Commerce's tightened export controls on advanced semiconductors, which aim to secure U.S. leadership in AI. The Semiconductor Industry Association's support for the CHIPS Act incentives further underscores the sector's robust outlook.