CoreWeave Takes Lead in Race for Nvidia Chips with Hudson River Deal

Although the news appears positive, the stock has lost 11.6% in the last 24 hours, and technical indicators are weak. The RSI is approaching oversold territory at 33.9, while the MACD is negative and below the signal line. The price is trading below both the 20-day and 50-day moving averages, confirming short-term pressure. While the positive news could trigger a short-term rebound, the current momentum is bearish, making a continuation of the downtrend more likely.

The news indicates that CoreWeave has gained a competitive advantage for Nvidia chips, but this is not a directly negative development for Nvidia. Technical indicators are weak: RSI at 33 is near oversold territory, MACD is negative, and the price is below both the SMA20 and SMA50. The 3.4% decline over the last 24 hours points to continued short-term selling pressure. While the headline confirms the strength of demand for Nvidia's chips, the current technical outlook supports downward momentum. Therefore, the price is likely to continue its downward trend in the short term, though oversold conditions could trigger a rebound.

AMD shares fell 7.9% over the last 24 hours to $468, with the RSI at 35.6, nearing oversold conditions. The MACD is in negative territory and below the signal line, indicating weak short-term momentum. The price is trading below both the 20-day and 50-day moving averages, which paints a negative technical outlook. News suggests intensifying competition for Nvidia chips and that AMD may lag in this race, potentially adding to selling pressure. However, the low RSI suggests a possible short-term bounce, so I assess the downside with moderate confidence.

AVGO shares have fallen 7.1% in the last 24 hours, with the RSI at 27.9, entering oversold territory. The MACD is in negative territory and below the signal line, indicating weak short-term momentum. The price is trading below both the 20-day and 50-day moving averages, which paints a negative technical picture. News points to increased competition for Nvidia chips, with CoreWeave taking the lead, which could cast a shadow over Broadcom's growth expectations in the data center and AI segment in the near term. However, given the oversold conditions, there is a possibility of a technical rebound, so while the bias remains downward, confidence is held at a moderate level.