Seeking Alpha’s roundup of statements, announcements, and remarks that could impact the technology market.
- Nvidia (NVDA) CEO Jensen Huang said that AI has become a virtual cycle, which will fuel continued growth.
“We have now achieved what is called the virtual cycle,” Huang said at an event in South Korea.
“The AIs get better. More people use it. More people use it, it makes more profit, creates more factories, which allows us to create even better AIs, which allows more people to use it. The virtual cycle of AI has been designed, and this is … the reason why you’re seeing the world’s capex going so fast,” he added, according to CNBC.
- Huang also downplayed national security concerns about his company selling advanced chips to China.
“The way to think about the China market is, it’s a singular, vital, important, dynamic market, and nobody can replace that,” Huang said, according to CNBC.
“It’s in the best interest of America to serve that China market. It’s in the best interest of China to have the American technology company bring … technology to the China market … It’s in the best interest of both countries, and I hope that policymakers will ultimately come to that conclusion,” he added.
- Netflix (NFLX) announced a 10-for-1 forward stock split late Thursday to make share ownership more accessible to employees.
“The purpose of the stock split is to reset the market price of the company’s common stock to a range that will be more accessible to employees who participate in the Company’s stock option program,” Netflix said in a statement.
The trading is expected to begin on a split-adjusted basis on Nov. 17.
Netflix shares have been comparatively expensive. The stock closed at $1,089.00 per share on Thursday.