Nvidia (NASDAQ:NVDA) stock is in the news Thursday after the company announced a new deal with Northrop Grumman (NYSE:NOC).
Northrop Grumman’s agreement with Nvidia gives it access to the graphics card company’s artificial intelligence (AI) platform. This is another example of the increasing demand NVDA is seeing lately for its AI services.
According to a press release, this covers Nvidia’s AI and generative AI software as well as its platforms and frameworks. Included in that is Nvidia Omniverse.
Anthony Robbins, vice president for the North America public sector at Nvidia, said the following about the deal.
“NVIDIA’s AI platform is at the forefront of the industry, driving innovation that solves difficult challenges. Northrop Grumman is the latest example of how businesses and organizations around the world are increasingly using NVIDIA AI software to deliver on the enormous potential of AI.”
NVDA Stock Movement Today
NVDA stock isn’t seeing major movement with the Northrop Grumman AI deal. Instead, only about 18 million shares of the stock have changed hands as of this writing. That’s well below its daily average trading volume of about 51.3 million shares.
NVDA stock is up slightly as of Thursday afternoon. The stock is also up 97.2% since the start of the year. NOC stock is also getting a slight boost today.
Investors will want to keep reading for even more of the most recent stock market stories!
We have all of the hottest stock market news traders need to know about on Thursday! That includes everything happening with shares of Chubb (NYSE:CB), McDonald’s (NYSE:MCD) and Nio (NYSE:NIO) stock today. All of this news is available at the following links!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
