Nvidia Sees Biggest Short Volume, AMD's Slips, Chevron's, NuScale's Rise

$NVIDIA(NVDA)$   attracted the biggest trading in borrowed shares that were sold short before CEO Jensen Huang said its much-awaited its Rubin data center processors are now in production, helping send shares rising in Tuesday. 

Short volume rose almost 15% to 15.5 million shares Monday, the most among stocks with a market capital of more than $5 billion tracked by moomoo. That represented about 8.45% of the total number of shares that changed hands that day, when the stock slipped 0.4%. 

The market leader in advanced chips that power artificial intelligence has seen a slow start to the year, compared with the smaller members of the $PHLX Semiconductor Index (.SOX.US)$. Nvidia's stock stock is up less than 1% so far, compared with a 14.8% jump for semiconductor equipment maker $ASML Holding (ASML.US)$, a 9.4% advance for memory chip giant $Micron Technology (MU.US)$ and a 6.7% rise for legacy chipmaker $Intel (INTC.US)$.

Nvidia's Rubin platform, the successor of the company's record-breaking Blackwell architecture, could deliver AI tokens at one-tenth of the cost, Huang said at the conference after the market closed Monday. 

Meanwhile, $Advanced Micro Devices (AMD.US)$, which rose only 3.2% so far this year, after climbing 77% last year, saw short sellers pulling back Monday. 

Trading in AMD's shorted shares declined to 2.27 million shares Monday, from 3.92 million shares in the previous session. After the market closed, CEO Lisa Su unveiled the company's most advanced chip MI455X, designed for on-premises enterprise AI deployments. 

Su also said the company's MI500 graphic processing units, planned for launch in 2027, is on track to deliver an increase of as much as 1,000x in AI performance compared to the AMD Instinct MI300X GPUs introduced in 2023. 

Still, that hasn't spurred investment excitement, with the stock poised for a second down day this year, slipping more than 1% in early trading. 

Monday's rally in energy stocks that was triggered by President Donald Trump's pledge to rebuild Venezuela's oil infrastructure, also attracted heavier trading by short sellers. 

$Chevron (CVX.US)$, saw its short volume jump more than five-fold to 5.91 million shares Monday, as the stock advanced 5.1% to its highest level since early April. 

$Halliburton (HAL.US)$ , $SLB Ltd (SLB.US)$, $Cenovus Energy (CVE.US)$, and $Canadian Natural Resources (CNQ.US)$ saw higher short volume as the share price gains weakened the case for betting against the companies that could benefit from a more stable environment in a South American nation that has the world's largest untapped oil reserves. 

$NuScale Power (SMR.US)$'s short volume more than doubled to 11.2 million shares Monday, as the stock climbed 15% amid continued optimism that surging demand for AI would spur a massive buildout of nuclear energy capacity. 

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