it’s been a brutal year for those betting against nvidia corp’s stock and the pain got worse thursday short sellers incurred 22 billion in marktomarket losses on their nvidia nvda positions in thursday’s session alone according to data from s3 partners as nvidia shares ran up 24 in the session on the heels of a staggering outlook see more short sellers are not evil but they are misunderstood nvidia shorts are down an estimated 8 billion so far this year according to s3 director matthew unterman who told marketwatch that “unsurprisingly” nvidia has been the top lossmaking short play on a yeartodate basis—by a wide margin tesla inc tsla ranks second in driving 58 billion in paper losses while apple inc aapl ranks third at 5 billion nvidia shares are up 164 so far in 2023 they’re up 233 thus far this week and on track to record their best weekly percentage gain since a stretch in november 2016 according to dow jones market data it wasn’t too long ago that wall street had concerns about both nvidia’s datacenter business and its gaming business but shares have shot up 244 from their 52week low achieved in midoctober a rally that reflected building optimism about the company’s potential to benefit from the rush to build out artificialintelligence tools that hype translated into real numbers wednesday when nvidia gave a massive forecast for 11 billion in quarterly revenue fueled by heavy demand for ai products read ‘ride the nvidia wave’ wall street says the ‘undeniably pricey’ stock can keep roaring “generative ai is driving exponential growth in compute requirements and a fast transition to nvidia accelerated computing” chief financial officer colette kress said on the company’s earnings call the company’s outlook factors in “a steep increase in demand related to generative ai and largelanguage models” she continued “this demand has extended our datacenter visibility out a few quarters and we have procured substantially higher supply for the second half of the year” nvidia cfo on recordbreaking forecast ‘the inflection point of ai is here’