Nov 24th, 2023 – Today’s indices performances: Nasdaq closed at 14,250.85 (-0.11%), S&P 500 at 4,559.34 (+0.06%) and Dow Jones at 35,390.15 (+0,33%).
Portfolio holding Nvidia (NVDA) (0.215 units @ $462.20) shares fell 1.93% today after international news organization Reuters reported that they will delay to Q1 2024 the launch of their new AI chip H20, that was developed to be sold to Chinese companies while complying with US export restrictions. H20 is being delayed due to issues server manufacturers are having in integrating the chip, as Reuters’s source said. The delay could have negative consequences for Nvidia’s performances in the Chinese market, and local competitors such as Huawei may take advantage of the situation. Nvidia is working on two other chips to comply with US export rules: L20 and L2. L20 is not facing delays according to the source, we do not have information about the L2.
iRobot, maker of Roomba vacuums, rose by 39.08% today after a Reuters report said the EU antitrust will approve Amazon’s $1.7 billion company’s acquisition, but the deal is still under review by the US Federal Trade Commission.
Crypto exchange shares Coinbase gained 5.76% today after Bitcoin reached a new 2023 high (slightly more than $38,000). This value increase could also have been caused by the difficulties that Binance, one of their major competitors, is encountering after the company pleaded guilty to federal charges of money laundering. Analysts speculate that Coinbase could benefit from Binance legal issues because US regulators now might be more inclined to approve a Bitcoin ETF, which would provide a significant boost to the world’s most well-known cryptocurrency market and further increase its price.
Author: Filippo Ferrero