NVIDIA Stock Surges in Midday Trading, Up Nearly 3%

Stock News07-22 23:31

Shares of NVIDIA Corp (NASDAQ: NVDA) experienced a significant upward move during Wednesday's trading session. At the time of writing, the stock was up nearly 3%, trading at $213.45.

The positive momentum follows reports indicating a substantial increase in the order backlog for Super Micro Computer, a key player in the data center hardware market. This development aligns with recent institutional research, which suggests a surge in general hardware procurement demand for next year, driven by a wave of new data center orders.

Analyst Matt Bryson from Wedbush Securities commented on the situation, stating that NVIDIA is positioned as the primary beneficiary in a market characterized by current supply constraints and anticipated future order growth. He cited two key reasons for this outlook: firstly, the vast majority of server manufacturers, including Super Micro Computer, currently utilize NVIDIA GPUs in their AI server production, a trend expected to continue. Secondly, among all hardware suppliers, NVIDIA possesses the strongest supply chain capabilities to meet this rising demand.

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