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's role as a key technological partner positions it to benefit greatly from this venture, enhancing its market position in the AI sector.
The GraniteShares 2x Long NVDA Daily ETF (NVDL) saw a notable increase, rising 6.24% to $76.05 as of 8:00 AM on Wednesday, January 22.