Tailwinds Remain Strong.

$NVIDIA(NVDA.US)$ $Direxion Daily Semiconductor Bull 3x Shares ETF(SOXL.US)$ $PHLX Semiconductor Index(.SOX.US)$
Despite this bit of bad news regarding NVDA stock in the first half of the year, there are still plenty of positives to excite investors.

First, Nvidia reported its first-quarter results for fiscal year 2023 in late May. The firm said it recorded record revenue of $8.29 billion during the period, up 46% YOY. More specifically, Nvidia said its data center and gaming segments also had record sales in Q1 — accounting for almost 90% of total revenue for the quarter.

Investors were happy with the figures, as NVDA stock rose more than 15% the following week.

Nvidia is continuing to forge crucial partnerships, too. The company is teaming up with Siemens $SIEMENS AG(SIEGY.US)$ to “develop real-world uses for the metaverse.” Of course, this a huge move for any company. For Nvidia, it’s an opportunity for the firm’s artificial intelligence (AI) capabilities to grow.