The GraniteShares 2x Long NVDA Daily ETF (NVDL) surged 5.02% intraday on Thursday, mirroring gains in NVIDIA's stock. The rally follows South Korea's announcement to distribute over 10,000 NVIDIA GPUs starting February next year, boosting demand expectations for NVIDIA's products.
The South Korean government plans to allocate these GPUs to SMEs, startups, and AI projects, part of a broader strategy to build a domestic AI ecosystem. This initiative aligns with NVIDIA's earlier commitment to deploy 260,000 GPUs in South Korea, reinforcing its market leadership in AI hardware.
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