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Report
Nvidia has a lot to do in 2025
The Street
Follow
12/17/2024
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why Nvidia has a lot to do in the new year.
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Sports
Transcript
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00:00
I'm Conway Gittins reporting from the New York Stock Exchange.
00:02
Here's what we're watching on the street today.
00:04
Stocks were down across the board as traders await the outcome of this week's Federal Reserve
00:09
meeting.
00:10
The Dow Jones Industrial Average closed lower for the ninth straight day on Tuesday.
00:15
That's something that has not happened since Jimmy Carter was in office all the way back
00:19
in 1978.
00:20
In other news, there are mounting worries about NVIDIA's throne on top of the artificial
00:26
intelligence kingdom.
00:28
Traders have fallen 13 percent since hitting a record high in November.
00:32
That kind of move is what Wall Street calls a stock correction.
00:36
So what's going on with companies?
00:38
Some of NVIDIA's top customers have set their budgets for 2025, and there are indications
00:43
AI spending will start to slow from its heady pace.
00:46
There are also concerns about Blackwell, NVIDIA's latest and greatest chip.
00:51
There could be some delays in full production due to a rumored flaw.
00:56
Any rollout delays would hinder sales for a company that has little room for error.
01:01
This leads to the third concern about NVIDIA's reign.
01:05
Competition is heating up.
01:06
Broadcom is focusing on making AI chips for large cloud computing companies known as hyperscalers.
01:13
A bullish sales forecast from Broadcom is prompting concerns its success could come
01:19
at NVIDIA's expense.
01:21
Finally, NVIDIA's kingdom is also feeling the heat from Chinese regulators.
01:26
Beijing has opened an antitrust probe into NVIDIA's purchase of a tech company called
01:31
Mellanox.
01:33
Though NVIDIA is down sharply since November, it's still up 162 percent for 2024.
01:40
And that'll do it for your daily briefing from the New York Stock Exchange.
01:43
I'm Conway Gittens with the Street.
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