Shares of Nvidia (NVDA 8.15%) were moving higher today on several news items, including a cooler-than-expected inflation report this morning, a well-received presentation at a Goldman Sachs conference this morning, and news that the federal government could allow it to export chips to Saudi Arabia. As a result, the stock closed up 8% on the news.
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The Federal Reserve is expected to cut interest rates next week, but investors are unsure if it will cut rates by 25 or 50 basis points. Ideally, interest rates will come down while the economy remains strong or even gets stronger. That would be the best scenario for Nvidia, as lower rates make growth stocks more valuable, and it should encourage borrowing for investment in artificial intelligence (AI) infrastructure, meaning spending on Nvidia components.
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