NVIDIA Corporation (NASDAQ:NVDA) is one of the best AI memory stocks to buy in 2026. Reuters reported on June 17 that the United States government awarded $500 million on Wednesday to startup SandboxAQ, which is backed by NVIDIA Corporation (NASDAQ:NVDA), for the development of new chemicals and materials for domestic semiconductor manufacturing. This includes alternatives to PFAS and rare earth imports, and the award is part of President Donald Trump’s move to allocate research funds under the CHIPS Act. Reuters also provided additional context, reporting that this effort previously funded a $150 million investment in new chip manufacturing tools and a $2 billion investment in quantum computing.
For reference, NVIDIA Corporation released financial results for fiscal Q1 2027 on May 20, reporting record revenue of $81.6 billion for the quarter, up 20% from the previous quarter and up 85% from a year ago. GAAP and non-GAAP gross margins were 74.9% and 75.0% for the quarter, respectively, while GAAP and non-GAAP earnings per diluted share were $2.39 and $1.87, respectively.
NVIDIA Corporation designs and manufactures computer graphics processors, chipsets, and other multimedia software. It operates in the Compute & Networking and Graphics Processing Unit (GPU) segments.
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