US Stock Market Closes Monday Mixed; Bank Stocks Rally After SVB Deal

The stock market closed mixed on Monday, with bank stocks climbing after First Citizens BancShares (FCNCA) agreed to buy most of Silicon Valley Bank.

Overall, S&P 500 rose 0.2% to 3,978, while NASDAQ declined 0.5% to 11,769.

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Here is the one-year chart of NVIDIA (NVDA) as of March 14, 2023, when the stock was at $241.

NVIDIA was originally focused on the computer graphics market, and invented the first graphics processing unit (GPU) in 1999. It has since expanded its architecture to scientific computing, artificial intelligence (AI), data science, autonomous vehicles, robotics, and virtual reality

The company is ringing in a new era of computing with its Artificial Intelligence (AI) capabilities. During the past few months, this advanced technology has become a reality. Now, AI is helping write articles, build life-like images and videos, perform scientific research and discover drugs. At the center of this momentum is the NVIDIA DGX – world’s AI supercomputer, and this technology is already in full production.

  • ChatGPT has gotten more than 100 million users in just a few months.
  • NVIDIA partnered with Microsoft to bring AI to Office 365 and complete tasks like an office assistant would.
  • It also partnered with Adobe to bring AI to Photoshop, Premier Pro, and After Effects.
  • NVIDIA also offers AI cloud services through cloud service providers including AWS and Google.

NVIDIA could return to an era of being a rapid grower, which in David Sharek’s opinion is a company growing profits at a rate of 65% or more. NVDA is part of the Growth Portfolio. Long-term, this seems to be one of the best growth stocks to own.

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