NVIDIA's $100B Investment Lifts New York Indices to Record Highs

The three major U.S. stock indices in New York hit record highs again on the 22nd. The impact was reflected as NVIDIA, an AI company, announced a large-scale investment plan for OpenAI, the developer of ChatGPT.

On the 22nd, the three major indices on the New York stock market rose collectively. The Dow Jones Industrial Average gained 0.2%, the S&P 500 Index rose 0.4%, and the Nasdaq Composite Index increased by 0.7%. All of them set new record highs.

The stock market started the day with declines in early trading but shifted to an upward trend as large tech stocks, including NVIDIA, rose. NVIDIA surged 3.9%, Tesla rose 1.9%, Apple jumped 4.3%, and Oracle climbed 6.3%. NVIDIA announced in the morning that it plans to invest $100 billion (approximately 140 trillion Korean won) to build data centers for OpenAI. Jensen Huang, NVIDIA’s chief executive officer (CEO), explained in an interview with U.S. CNBC alongside Sam Altman, OpenAI’s CEO, that “this project is a massive project.” The investment is expected to support the construction of 10-gigawatt (GW) scale data centers capable of training and deploying OpenAI models using NVIDIA’s advanced AI chips.

Sam Stoval, a senior investment strategist at CFRA Research, a global investment research firm, said, “This contract suggests that AI investments will drive corporate performance and stock prices even beyond 2026.”

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