Nvidia Stock Rises on AI Spending, Chip Deal Ahead of Earnings

Nvidia's stock has been on a tear lately, rising over 20% in the past month.

This is due to a number of factors, including strong demand for its artificial intelligence (AI) chips and a recent deal to supply chips to Chinese automaker BYD.

Nvidia's AI chips are used in a wide range of applications, including self-driving cars, medical imaging, and financial trading.

The demand for these chips is expected to continue to grow in the coming years, as AI becomes more widely adopted.

The deal with BYD is another major win for Nvidia.

BYD is one of the largest automakers in China, and it is planning to use Nvidia's chips in its electric vehicles.

This deal is expected to provide a significant boost to Nvidia's revenue in the coming years.

Nvidia is scheduled to report its earnings on May 25.

Analysts are expecting the company to report strong results, driven by demand for its AI chips and the BYD deal.

If Nvidia meets or exceeds expectations, its stock could continue to rise in the coming months.

Here are some of the reasons why Nvidia's stock is rising:

• Strong demand for its AI chips
• Recent deal to supply chips to Chinese automaker BYD
• Positive expectations for upcoming earnings report

Overall, Nvidia is a well-positioned company with a strong track record of innovation.

The company's stock is likely to continue to perform well in the coming years, as demand for its AI chips continues to grow.