Nvidia shares are unstoppable

Nvidia shares rose this time with Elon Musk's statement. Nvidia shares, which added hundreds of billions of dollars to its market value after the announcement of its balance sheet and future assessment, rose this time with Elon Musk's statement. Elon Musk challenged the artificial intelligence startup OpenAI, which he previously supported, with his new startup xAI, and the three-day rally reached 20 percent with the idea that the new competition would benefit chipmaker Nvidia. According to The Information, Musk will use Nvidia's H100 graphics processor to create the xAI supercomputer. Cantor Fitzgerald analyst CJ Muse said the xAI news gave investors "more confidence" that AI chip spending will continue. Muse said Nvidia's balance sheet and expectations "completely eliminate the possibility of a gap" in demand for the company's chips in 2024.