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Nvidia's stock price volatility exceeds Bitcoin's
2024-07-31 01:01
Odaily News Nvidia (NVDA.O), one of the hottest U.S. stocks, has become more volatile than even Bitcoin as the artificial intelligence boom has propelled it. The company’s shares, which had surged as industry companies spent money to buy its chips, fell 7% on Tuesday, the biggest drop in more than three months, wiping out $193 billion from its market value. Nvidia’s shares have fallen 23% since July 10, and the reversal highlights a risk that has gone unnoticed as its stock has risen: its volatility is about twice that of Bitcoin, at least by one key measure. Despite this month’s pullback, Nvidia is still up about 109% this year, more than any other stock in the S&P 500 except for Super Micro Computer Inc., another company that has benefited from investments in equipment for AI applications.