The stock markets are the financial equivalent of a fickle mistress. Just ask NVIDIA. The company has, in recent months, introduced their Turing architecture and derived products - a move NVIDIA deemed such a significant leap over its previous generations that it prompted a change from the GTX of old to a new RTX moniker. The company's latest financial results
also reported a 21% increase in revenue YoY, and a 2% increase relative to the last quarter. Despite this and increased cash dividends being delivered to the hands of investors, festive must not be NVIDIA's mind right now.
The dive, which practically halved the company's stock valuation since October, moving from an all-time peak of $289.36 on October 1, to just under $149 (a 48.8% decline). This fall has mostly been attributed to the crypto slump, which left NVIDIA with excess inventory in its channels and may have pushed some of the company's plans for their 2000 series over the edge - particularly in the midrange graphics department. However, overall reception of their RTX 2000-series cards wasn't all that glamorous - and that surely moved investors' minds as well. Now, it appears that Softbank, one of the tech world's giants, is pulling its weight from NVIDIA and racking in a $3 billion profit, as is being reported by numerous outlets. Apparently, the deal isn't finalized as of writing, but that must be rocking NVIDIA's boat all the same.
Bloomberg, via TechSpot