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Nvidia CEO Jensen Huang said in an interview with CNBC on Wednesday that demand for tech giant Blackwell’s “superchip” is “insane,” with Nvidia shares up 3% on Thursday. It rose more than that.
Hwang addressed the demand for Blackwell in a CNBC interview Wednesday. (Photo by Chip Somodevilla/Getty … (+)
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important facts
Nvidia stock rose as high as $124.26 on Thursday, but fell 3.3% to $122.80 by market close.
The day’s strong performance comes as Huang told CNBC there was “insane” demand for NVIDIA’s next Blackwell chip from companies such as Microsoft, OpenAI, Meta and other AI companies. The deal became a reality. beginning. “
Thursday’s stock rally continues NVIDIA’s streak of gains since early September, when the chip designer’s stock fell to $102.83, despite reporting record earnings about a week ago.
According to Nvidia’s website, Blackwell-based products will ship to the cloud services divisions of Oracle, Amazon, Microsoft and Google later this year.
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Contra
Stock prices fell significantly on that day. The S&P 500 index fell, closing 0.17% lower on Thursday, as Nvidia’s gains weren’t enough to pull the tech-heavy Nasdaq out of the red.
Forbes rating
After a $3 billion increase on Thursday, Huang’s net worth is estimated at $107 billion, making the Nvidia head the 12th richest person in the world.
What is Nvidia’s Grace Blackwell’s “superchip”?
Nvidia’s next-generation chips can train AI models at high speeds while keeping energy consumption rates relatively low. According to CNBC, Blackwell is expected to cost between $30,000 and $40,000 per unit.
Main background
Nvidia’s Blackwell chips will further solidify the company as a leader in the artificial intelligence market while continuing to provide products and services to technology leaders like Microsoft, Meta, Alphabet and Amazon, which account for the lion’s share of its revenue. Despite a brief sharp decline between July and September, Nvidia’s stock price has risen more than 147% since the beginning of the year, when it traded at $48.17 per share. The company also posted record earnings in the second quarter, with sales of $30 billion and net income of $16.5 billion. Nvidia’s data center division, which provides some of its AI products, generated $26.3 billion in revenue in the quarter, up 154% year-over-year.
Read more
Nvidia CEO Jensen Huang says demand for next-generation Blackwell AI chips is “insane” (CNBC)
Nvidia exceeds expectations again after reporting record revenue (Forbes)
