Argus analyst Jim Kelleher kept his Buy rating and $300 price target on Nvidia (NVDA), saying the company has been "caught up" in the broader technology sector selloff as well as potential risks coming from China-U.S. trade tensions. The analyst states however that that investors should take advantage of the pullback to add to or initiate longs based on the company's position as a "preeminent player in the emerging AI and machine learning economy". Kelleher also cites Nvidia's recent GPU Compute Conference profiling its RAPIDS data science acceleration platform as well as its recent announcement of Volvo (VLVLY) selecting its NVidia Drive AGX Xavier for its production cars starting early in the 2020s.

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

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