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Digital Coin Euphoria Wipes Away Tech Selloff for Nvidia and AMD

  • Pacific Crest upgraded Nvidia and raised estimates for AMD
  • Analyst cited surging demand from cryptocurrency miners
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Photographer: Chris Ratcliffe/Bloomberg

The two-week selloff in tech shares that wiped hundreds of billions in value from the sector’s biggest names is over for two of the highest flying chipmakers.

Nvidia Corp. and Advanced Micro Devices Inc. have all but erased losses that began June 8, with each rallying at least 5 percent in the past two days, even as broader measures of tech shares remain more than 2 percent from recent highs.