JMP Securities believes that NVIDIA (NVDA) is "exceptionally well-positioned" to overcome near-term risks. The firm expects the company to benefit from the proliferation of virtual reality, artificial intelligence, and autonomous driving. It believes that the company is gaining market share in GPU and seeing favorable trends in China. According to JMP, the results of Intel (INTC) and AMD (AMD) show storng demand for more expensive PCs, where NVIDIA is gaining share. JMP reiterates a $38 price target and Outperform rating on NVIDIA.

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSAudioEye (AEYE) up... To see the rest of the story go to thefly.com. See Story Here

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

The U.S. Department of Defense has awarded Intel Foundry Phase Three of its Rapid Assured Microelectronics Prototypes - Commercial, or RAMP-C, program, the company announced. "The award was announced through the National Security Technology Accelerator's consortium-based Strategic and Spectrum Missions Advanced Resilient Trusted Systems Other Transaction Authority program. The third phase of RAMP-C advances the tape-out and testing of early defense industrial base product prototypes, signifying a critical milestone for the program that highlights the readiness of Intel 18A process technology, intellectual property and ecosystem solutions for high-volume manufacturing. As part of the announcement, RAMP-C customers can begin manufacturing commercial and DIB product prototypes on Intel 18A process technology," Intel stated. Reference Link

Friday's total option volume of 56.7 million contracts resulted in net open interest growth of 6.01 million calls and 5.28 million puts. NVIDIA (NVDA), Tesla (TSLA), Apple (AAPL) and Advanced Micro Devices (AMD) saw the greatest growth. Top five new positions opened include 50k Lyft (LYFT) May-24 20 calls, 44k Energy Transfer (ET) 4/26 weekly 16.5 calls, 43k Las Vegas Sands (LVS) Sep-24 41 calls, 23k Tesla (TSLA) 4/26 weekly 162.5 calls and 21k Papa John's (PZZA) Jun-24 57.5 puts.

SoftBank (SFTBY) is planning to spend Y150B, or $960M, by 2025 to boost the number crunching power at its computing facilities to develop world-class generative artificial intelligence, Nikkei Asia's staff writers report, citing sources. The company's computing power is likely to be among the highest in Japan once the investment is complete and graphics processing units will be bought from Nvidia (NVDA). Reference Link