Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Nvidia (NVDA) shares are continuing to climb as the U.S. government has authorized the sale of Nvidia Corp.'s H200 AI chips to 10 Chinese tech giants, including Alibaba Group Holding Ltd. and Tencent Holdings ADR.
- Cisco Systems (CSCO) is soaring after delivering a better-than-anticipated sales forecast and announcing plans to cut thousands of jobs. The layoffs will affect fewer than 4,000 jobs, and the company will make strategic investments in areas such as silicon chips, fiber optics, security, and the use of AI by its own employees.
- Wolfspeed (WOLF) is rallying after thematic research firm Citrini touted chipmaker Wolfspeed as its “single-stock highlight,” discussing artificial intelligence infrastructure.