Nvidia stocks: Why is NVDA share price down even as AI giant paid several billion dollars investment in in Corning?
Nvidia stocks were down on Friday.
Nvidia stocks were down on Friday. Nvidia share price fell 0.24 per cent in the pre-market trading.
Nvidia has paid several billion dollars to help fund new factories for glassmaker Corning in addition to taking an equity stake of up to $3.2 billion disclosed earlier this week, the CEOs of the two companies confirmed on Thursday.Nvidia CEO Jensen Huang said the AI chip supplier has made "a multi-billion-dollar prepayment" that was not disclosed when it announced an equity investment earlier this week in Corning, whose glass is used in the fiber-optic cables that connect computers in massive data centers. He spoke on CNBC in a joint interview with Corning CEO Wendell Weeks."It's going to create thousands of jobs," Huang said.
Original reporting: The Times of India.
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