(Reuters) – Investors with short position on Nvidia lost $826 million in mark-to-market losses on Thursday, data from analytics firm S3 Partners showed, as the world’s largest chipmaker’s shares surged after a strong revenue forecast.
Bearish bets on the chip designer, which is the biggest beneficiary of AI boom, have cost investors $11.36 billion in paper losses so far this year, neck-to-neck with Tesla as the worst performing short bet, S3 Partners said.
Nvidia shares rose 7.4% to $506.30 before the opening bell.
(Reporting by Medha Singh in Bengaluru; Editing by Arun Koyyur)