Nvidia Stock: Friday Update

Nvidia Corp catches attention due to ChatGPT and semiconductor makers in Japan. The stock has increased by 120% YTD. Semiconductor makers are consolidating tech partnerships in Japan.

On Thursday, TSM, Samsung, Intel, and MU bosses met with Japan's PM. The meeting was held in Tokyo. They talked about their plans for Japan's transformation.

Micron will invest ¥500 billion ($3.7 billion) for a new plant in Hiroshima. The plant will produce extreme ultraviolet lithography technology.

According to the Financial Times, Samsung talked about building a ¥30 billion research and development center in Yokohama.

TSMC may invest more in Japan. They already agreed to build a new plant in Kumamoto.

Japan's minister, Yasutoshi Nishimura talked with Intel, Applied Materials, Inc, International Business Machines Corp and Rapidus.

Nishimura said Japan's government will use ¥1.3 trillion from the supplementary budget. It will support the promises foreign chipmakers made.

Japan wants to grow its semiconductor industry but has fewer workers. They may not have enough engineers.

Japan's offers present great chances for chipmakers to expand. Japan wants to decrease its reliance on China.

Patrick Scholes, an Oppenheimer analyst, said that Nvidia is the best choice for investing in AI. He upgraded the Outperform rating and increased the price target to $350. This happened on Thursday.

NVDA shares fell by 1.84% to $310.93 on Friday.

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The article "What's Going On With Nvidia Stock Friday" was first published on Benzinga.com.

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