NVIDIA boosts optimism towards artificial intelligence, Australian uranium miner surges.
Uranium mining companies Deep Yellow, Boss Energy, and Paladin Energy have seen their stock prices rise between 3.3% to 6.9%. These stocks are the biggest gainers in the energy sector index. Wall Street darling Nvidia, a leader in artificial intelligence, is expected to report higher revenues in the fourth quarter, causing its stock price to rise overnight. IG market analyst Tony Sycamore stated, "Uranium stocks are considered a key part of artificial intelligence trading due to their role in powering data centers." Year-to-date, Deep Yellow and Paladin Energy have risen by 52% and 9.3% respectively, while Boss Energy has fallen by 30.7%.
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