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Why is Nvidia stock up today?



What happened

Shares of Nvidia (NASDAQ: NVDA) jumped 5.4% on Wednesday, as excitement built up for the tech giant’s upcoming product.

So what

On Tuesday, Nvidia announced a “GeForce Special Event” on September 1, in which CEO Jensen Huang will talk about the manufacturer’s “latest in-game and graphics innovations” chip export. Meanwhile, the site for the event promises to reveal “the biggest breakthroughs in PC gaming since 1999.”

A neon sign indicates coming soon

Nvidia shares rose on Wednesday as gamers eagerly awaited the company’s new product announcement. Photo source: Getty Images.

1999 was the year Nvidia introduced its first GeForce graphics processor to the gaming market. It is considered a huge step in the industry, as it helps make the high-end graphics capabilities affordable for more people.

Analysts say the launch of the next-generation graphics chip could spark a massive upgrade cycle, which will fuel growth for Nvidia and other chipmakers. Advanced Micro Devices.

So what now

Rumors are swirling around gamers and industry experts ahead of the Nvidia event. Given the growing expectations of customers and shareholders, Nvidia will need to reveal something special. Perhaps management will provide more hints on what to expect when Nvidia reports its second quarter results and holds an earnings conference call after the market closes on August 19.




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