NVIDIA Stock Bounces Back After Uber Clarification

NVIDIA Stock Bounces Back After Uber Clarification
StockSnap / Pixabay

NVIDIA Corporation (NASDAQ:NVDA) stock began to rally in the premarket trading hours on Thursday after plunging on Tuesday. The chip maker increased its outlook for the data center market on Wednesday, but that wasn’t enough to give its shares a boost. NVIDIA stock plunged on Tuesday after the company said it was pausing the tests of its self-driving car system in the wake of the deadly accident involving an autonomous Uber vehicle.

Given the relationship between NVIDIA and Uber, many investors may have taken that move to mean that the ride-sharing firm was using the chip maker’s self-driving system, but NVIDIA management clarified this morning that it isn’t the case.

NVIDIA stock sells off as sentiment shifts on DRIVE platform

RV Capital 1H22 Letter to Co-Investors in Business Owner