Nvidia Soars on AI Optimism Despite a Slowdown in Chip Demand

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The frenzy surrounding artificial intelligence (AI) has lifted the share price of Nvidia (NVDA) so much that many analysts now see limited upside potential for the stock in the medium term. The price of Nvidia has more than doubled from its 2-year low in October of $108.13 a share. Nvidia has surged on speculation that it stands to benefit from the AI craze as it dominates the market for chips used for complex computing required for artificial intelligence programs. The soaring valuation of Nvidia has prompted most analysts to cut their price estimates for the stock. The average price forecast…

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