Alphabet's announcement of a $75 billion capital expenditure plan for 2025 has provided a significant boost to Nvidia, as the tech giant aims to expand its AI infrastructure. This investment is expected to heavily rely on advanced chips, positioning Nvidia as a key beneficiary. Alphabet's CEO, Sundar Pichai, emphasized the ongoing partnership with Nvidia, highlighting the importance of its technology in supporting Alphabet's AI ambitions. This development comes as major tech companies, including Microsoft and Meta, are also increasing their AI investments, underscoring the competitive landscape and the growing demand for AI capabilities.
The GraniteShares 2x Long NVDA Daily ETF (NVDL) rose 0.67% to $48.17 as of 7:00 AM on Wednesday, February 5.