Rude bill for Nvidia – The Finns caught up

Thousands Nordnet Finland customers traded chip designer Nvidia’s with shares on Monday. Trading in Nvidia shares increased fivefold from a normal trading day, says Nordnet’s equity strategist Jukka Oksaharju.

Finnish investors seemed to have taken advantage of Nvidia’s price drop caused by espionage suspicions as a place to buy, as 94 percent of Nordnet’s customers who traded the stock bought Nvidia shares.

On a net basis, Monday’s share purchases totaled tens of millions of euros.

“We can talk about the unanimous position of Finnish private investors that this is now a temporary dip,” says Oksaharju.

Suspicion of espionage weighed on the course

CEO of Nvidia Jensen Huang admitted on Sunday to a relationship with a woman who US intelligence officials suspect of passing information to China.

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Nvidia’s board has launched an independent investigation into the matter. In a statement, the board said it had confidence in Huang’s leadership and said it had no reason to believe U.S. national security or Nvidia’s trade secrets had been compromised.

Nvidia’s share price fell by more than four percent on Monday in the United States, even though the chip sector was otherwise on the rise.

Oksaharju points out that technology and artificial intelligence are a phenomenon even bigger than a megatrend, which is not stopped by suspicions of espionage. According to Oksaharju, it is a pleasure to see that Finnish investors are taking advantage of the Buy Places in the world’s leading artificial intelligence companies.

“It has been worthwhile to be involved in technology and artificial intelligence, and especially in companies that are on the cutting edge of it,” says Oksaharju.