1 Surprising Reason Nvidia Stock Just Hit All-Time Highs

Nvidia (NASDAQ: NVDA) stock just hit new all-time highs. But there's a catch: Nvidia's latest rise has nothing to do with the company itself, at least not directly. Instead, there's another AI stock that is causing the entire industry to rise in valuation.Amazingly, no company with a market cap north of $500 billion has ever seen its stock price rise by more than 30% in a single trading day. But that's exactly what happened this week with Oracle (NYSE: ORCL) after the company announced blockbuster earnings with incredibly optimistic forecasts for AI infrastructure demand. According to Oracle's CEO, the firm inked four mega contracts in the first quarter, bringing its backlog to more than $450 billion -- four times what it was just a year ago. Oracle Cloud Infrastructure -- a division directly exposed to rising AI spending -- is expected to grow revenue by 77% to $18 billion from the previous year. Most impressively, that division is expected to reach $144 billion in revenue by 2030.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool