Nvidia's stock is experiencing a surge following the announcement of a substantial $500 billion investment in artificial intelligence infrastructure in the United States. This initiative, led by a joint venture involving OpenAI, Oracle, and SoftBank, was revealed at a White House event and is set to significantly boost demand for Nvidia's chips, which are crucial for AI data processing. The project, named The Stargate Project, aims to construct extensive AI infrastructure, including data centers, over the next four years. With $100 billion in funding available immediately, Nvidia is poised to benefit from this strategic move, which is expected to create over 100,000 jobs and enhance the U.S.'s position in the global AI race.
The Graniteshares 2x Short NVDA Daily ETF (NVD) experienced a decline, dropping 6.01% to $24.86 as of 8:00 AM on Wednesday, January 22.