Shares of technology companies rose as traders rotated back into the sector ahead of earnings.
Three of the Magnificent Seven -- Meta Platforms, Microsoft and Apple -- will provide quarterly updates this week.
"They usually garner a lot of attention, not only because of their market cap but also because their growth rates are so significant," said J.D. Joyce, president of Houston financial advisory Joyce Wealth Management.
AI chip maker Nvidia is investing an additional $2 billion into CoreWeave in a vote of confidence in the artificial-intelligence data-center company that uses Nvidia's chips.
Quantum-computing company IonQ struck a deal to buy chip maker SkyWater Technology for $35 a share, or roughly $1.8 billion, executives told The Wall Street Journal.
NVIDIA Corporation is the world leader in the design, development, and marketing of programmable graphics processors. The group also develops associated software. Net sales break down by family of products as follows:
- computing and networking solutions (89%): data center platforms and infrastructure, Ethernet interconnect solutions, high-performance computing solutions, platforms and solutions for autonomous and intelligent vehicles, solutions for enterprise artificial intelligence infrastructure, crypto-currency mining processors, embedded computer boards for robotics, teaching, learning and artificial intelligence development, etc.;
- graphics processors (11%): for PCs, game consoles, video game streaming platforms, workstations, etc. (GeForce, NVIDIA RTX, Quadro brands, etc.). The group also offers laptops, desktops, gaming computers, computer peripherals (monitors, mice, joysticks, remote controls, etc.), software for visual and virtual computing, platforms for automotive infotainment systems and cloud collaboration platforms.
Net sales break down by industry between data storage (88.3%), gaming (8.7%), professional visualization (1.4%), automotive (1.3%) and other (0.3%).
Net sales are distributed geographically as follows: the United States (46.9%), Singapore (18.2%), Taiwan (15.8%), China and Hong Kong (13.1%) and other (6%).
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