AI stocks Nvidia, Super Micro set to extend rally

Guardforce AI

04/03/2024 15:12

** Shares of AI-linked firms gain, building a rally from
last week
    ** AI server maker Super Micro Computer  SMCI.O  jumps 19%
to a record high after co to join the S&P 500 index  .SPX 
    ** Nvidia  NVDA.O , AI bellwether and the third most
valuable U.S. company, adds 3.1% ahead of a presentation at
Morgan Stanley's Tech, Media & Telecom conference
    ** Investors will turn to Q1 results from Broadcom  AVGO.O 
on Thursday for more clues on AI demand
    ** While the AI story has seemingly years to continue to
play out, any near-term misses such as Broadcom earnings or
mundane NVDA presentation could trigger profit taking from a
group that has returned 136% since Jan. 1, 2023 - J.P.Morgan
trading desk said on AI stocks
    ** Data analytics firm BigBear.ai  BBAI.N  gain 25% at
$4.34, while conversation intelligence co SoundHound AI  SOUN.O 
up 2.7%
    ** On Friday, NVDA and SOUN were among the top 6 most traded
stocks by retail traders - J.P.Morgan data shows
    ** The Philadelphia chip index  .SOX  added 1% after a 6.8%
climb last week 

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))