Problems with OpenAI Plan Push Nvidia Stock Down
Shares of the technology and artificial intelligence giant Nvidia fell by approximately 2% today due to issues surrounding its $100 billion investment plan with OpenAI.
This comes after Nvidia commented on the size of the investment in OpenAI, which led to a temporary halt in negotiations.
It's worth noting that the stock dipped to near $187 before attempting to recover.
Nvidia's CEO stated that the company is committed to making a significant investment in OpenAI, which would be its largest investment to date.
Technical Outlook
As for the technical outlook for Nvidia's stock, it is currently moving sideways near the $189 level.
The price movement tends to be consolidating, and we expect to see an upward move if the stock breaks through and closes above $194 on a daily candle, which is a significant level at the moment.
If the price rises, it will target levels of $202 and $211.
However, if the support level at $170 is broken and a full daily candle closes below it, we are likely to see a continuation of the downward trend in the medium term, which could reach as low as $155.
