Shares of Nvidia (NVDA) are trading higher on Tuesday following an announcement from Elon Musk regarding his AI startup, xAI. Musk revealed that the company is in the process of building a supercomputer to be powered by Nvidia's chip technology. The supercomputer will boost operations at the startup. Yahoo Finance's Brad Smith and Seana Smith break down the details. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
The Nasdaq remained Tuesday's leader while the Dow Jones Industrial Average slipped from noon levels in the stock market today. The Dow Jones index weakened further and was down 0.6%, off more than 200 points. The S&P 500 remained flat, while the Nasdaq climbed around 0.6%, getting a boost from Nvidia.
Dubbed the Magnificent Seven stocks, Apple, Microsoft, Google parent Alphabet, Amazon, Nvidia, Meta Platforms and Tesla lived up to their name in 2023 with big gains. But the middle part of the second quarter of 2024 showed a big divergence of returns.