Major driver of AI trade takes a breather. But Nvidia’s business is still hot

News Snapshot:

The major force behind this year's AI trade has cooled off in recent weeks. Nvidia shares have essentially traded sideways since CEO Jensen Huang addressed developers at the company's GTC conference nearly three weeks ago. Huang announced a new chip platform, Blackwell, and spent plenty of time talking about new software and services. It advanced Nvidia's efforts to create an ecosystem of software and services around its must-have artificial intelligence hardware — taking a page out of Apple 's playbook. Earlier in the week , we focused on Microsoft , Alphabet , Amazon and Meta Platforms ' (and to some...