Nvidia Stock Is Rising. How It's Taking the Fight to Google

Dow Jones
Yesterday

Nvidia was edging up early on Tuesday as a flurry of partnership announcements looked to bolster confidence in the chip maker in the face of rival artificial-intelligence hardware from Google.

Nvidia shares were up 0.15% at $180.19 in premarket trading. It would be the stock's first back-to-back daily gains since Nov.10, according to FactSet data.

The shares rose 1.7% the previous day when Nvidia said it would take a $2 billion stake in Synopsys, the largest provider of electronic design automation software used to design semiconductors. It's a move which could expand the use of Nvidia's graphics-processing units in industry and engineering, reducing concern over market share loss to Google's Tensor Processing Units.

Nvidia has kicked off the week with a number of partnership announcements. On Monday, server company Hewlett Packard Enterprise said it was expanding its partnership with Nvidia, launching an "AI Factory Lab" in France, where customers can test workloads on European Union-based infrastructure.

Meanwhile, shares in Japanese industrial robot maker Fanuc rose 6.5% after it said it would integrate Nvidia's technology. Fanuc said it is partnering with Nvidia to develop AI robots that can take verbal commands.

Among other chip makers, Broadcom was up 0.7% in premarket trading. Broadcom is Google's key design partner for its custom AI chips.

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