Nvidia shares' 9% recovery Tuesday was the second-best day in terms of market cap added for any company ever, trailing only a record it set in July.
sent a chill through the U.S. stock market this week, headlined by losses from Nvidia , the Silicon Valley giant which designs most of the pricey semiconductor technology powering the AI revolution.
To recap Nvidia’s whipsaw week: Its market value fell by about $590 billion Monday, rose by roughly $260 billion Tuesday and dropped $160 billion Wednesday morning. In this context, distillation is a process where an AI model uses responses generated by other, more powerful, AI models to aid its development. Sacks added that over the next few months he expects leading U.S. AI companies will be"taking steps to try and prevent distillation” to slow down “these copycat models.”Nvidia stock ends normal trading up 8.8%, scoring its best percentage gain in six months.
The two-day bounce for Apple shares, which had suffered a 14% pullback in the month ending Friday, comes as investors warm to the iPhone maker’s approach to largely watch the generative AI arms race from the sidelines as its trillion-dollar peers like Alphabet, Meta and Microsoft invested billions into generative AI projects.
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