Nvidia, a leading AI chipmaker, saw its shares fall from a record high after news of a deal with Middle Eastern telecoms giant Ooredoo. A bearish engulfing pattern formed on Thursday, indicating a potential downward trend. Investors should watch key chart levels at $119 and $110 for potential support. Ooredoo signed a deal with Nvidia to deploy AI technology in data centers across five Middle Eastern countries, offering advanced services to their customers. The deal comes amidst stricter export controls on advanced American chips to prevent China from accessing AI technology through the Middle East. The author does not hold any securities mentioned in the article.
Article Source
https://finance.yahoo.com/news/nvidia-stock-spotlight-drop-record-015800468.html
