Stock Track | GraniteShares 2x Long NVDA Daily ETF Soars 6.39% Intraday on H200 Chip Approval, CEO's China Visit, and Bullish Analyst Outlook

Stock Track05-14 22:23

The GraniteShares 2x Long NVDA Daily ETF (NVDL), a leveraged product tracking NVIDIA's daily performance, surged 6.39% during intraday trading on Thursday, amplifying significant bullish momentum in its underlying asset.

The rally was primarily fueled by market reports that the U.S. government has granted approval for ten Chinese companies, including major technology firms like Alibaba, ByteDance, Tencent Holdings, and JD.com, to purchase NVIDIA's advanced H200 chips. Concurrently, NVIDIA founder and CEO Jensen Huang's unexpected participation in a high-level U.S. delegation visiting China bolstered sentiment. Huang, who joined the trip following a personal invitation, commented that the talks had "gone well," sparking optimism about potential improvements in the semiconductor trade relationship.

Further supporting the positive move, Bank of America Securities released a highly optimistic research report, reaffirming NVIDIA as a top industry pick and raising its price target to $320. The firm projected that artificial intelligence infrastructure spending will be "stronger and more enduring" than previously forecast, with the total addressable market for AI data center systems expected to reach $1.7 trillion by 2030.

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