"Shares of GPU titan Nvidia ( NASDAQ:NVDA) may have been stuck in a sideways channel for the past six months, but a lot has been going on behind the scenes amid the intense sideways action. Of course, Nvidia isn't solely to blame for the recent consolidation. In fact, the Magnificent Seven players have really run out of steam in the past quarter or so."
"What is encouraging is how quickly Nvidia was able to move on from concerns surrounding Greenland. What's more, Nvidia has been making many deals with industry leaders. And it's these such deals that I think could help AI move from expensive (and potentially wasteful) investment to a monetizable business that transforms the world and puts the bubble talks to rest."
Nvidia's shares have been stuck in a six-month sideways trading channel while substantial corporate activity continues behind the scenes. The Magnificent Seven group has cooled recently, and several peers have declined over 10%, putting a 20% bear-market threshold within reach for some. Nvidia has shown relative resilience compared with many peers but underperformed hot semiconductor and memory-chip stocks. Ongoing industry partnerships and major strategic bets aim to convert expensive AI investment into monetizable applications. Healthcare, including medical screening and drug discovery, represents a major AI opportunity, though timelines for AI-driven blockbuster drugs remain uncertain amid market skepticism and bearish wagers.
Read at 24/7 Wall St.
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