Nvidia stock rises on HSBC upgrade as analyst sees 'continuous earnings growth'

Nvidia (NVDA) stock rose more than 2% in early trading on Monday as HSBC (HSBC) upgraded shares to Buy from Hold on resilient earnings growth. HSBC analyst Frank Lee said in a research note that he expects the market for Nvidia's AI chips to keep growing beyond its Big Tech customers, pointing to OpenAI-backed Stargate projects in the US and abroad as well as OpenAI's (OPAI.PVT) recent deal with Nvidia, which he sees cumulatively creating up to $400 billion in revenue for the chipmaker. Lee said that the ...