NVIDIA Corporation (NASDAQ: NVDA) stock spiked over 3% on Monday despite the absence of any company-specific news. This upward movement was likely a ripple effect from the positive performance of AI stocks, including Super Micro Computer.
Shares of Super Micro Computer (NASDAQ: SMCI), a manufacturer of servers and storage equipment tailored for AI applications, soared following an announcement by S&P Global. The company will join the S&P 500 on March 18, a move that endorses Super Micro and the entire AI sector. This news has ignited a fresh wave of enthusiasm, with investors flocking to these stocks again.
NVIDIA (NASDAQ: NVDA) ended the trading session up 3.6% after peaking at a 6.6% increase earlier on Monday. Super Micro Computer (NASDAQ: SMCI) also saw substantial gains, with its shares up 18.65%. Other notable performers in the AI sector included Intel (NASDAQ: INTC) and Taiwan Semiconductor Manufacturing, both of which closed the session up more than 3%.
NVIDIA (NASDAQ: NVDA) Stock Performance
NVIDIA stock inclined 3.60% to close at $852.37 on Monday. The traders had exchanged hands with 61,561,644 (61.56 million) shares compared to the average daily trading volume of 46.69 million.
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