Nvidia CEO Jen-Hsun Huang demonstrated “Blackwell” at a previous event at the Computex Forum in Taipei, Taiwan, on June 2, 2024.
Wang An | Reuters
NVIDIA Shares soared 25% last month, closing at documented Ahead of tech earnings season in the coming weeks, here’s what top clients will love Yuan, Microsoft and letter Shareholders will be updated on their anticipated investments in artificial intelligence.
Nvidia has rebounded sharply following a brief but sharp decline in late August and early September. The stock fell slightly on Wednesday to around $132, just below its closing high of $135.58 set in July. Nvidia has surpassed Microsoft to become the second most valuable company, behind apple.
Nvidia is the biggest beneficiary of the artificial intelligence boom, including YuanOpenAI, Alphabet, Microsoft and Oracle Continue to launch technologies and products that require significant investments in their graphics processing units (GPUs).
In August, Nvidia reported that Second quarter financial report Data show that revenue increased by 122% year-on-year and net profit more than doubled to US$16.6 billion. The company also gave stronger-than-expected guidance for the quarter and said it expected to ship billions of dollars’ worth of new Blackwell AI chips. Demand is so high that Nvidia expects shipments of its current-generation Hopper chips to increase over the next two quarters.
“We believe NVDA remains a leader in AI training and inference chips for data center applications. Mizuho Analysts said in a note on Wednesday that they estimate the company has about 95% of the market. Analysts have a price target of $140 on the stock, but point to risks such as possible escalation of export restrictions to China, geopolitical tensions in Taiwan or a sharp reduction in spending on artificial intelligence servers.
“Everyone wants to have the most, everyone wants to be first,” CEO Jen-Hsun Huang said in a statement. interview Last week on CNBC’s “Closing Bell Overtime,” he talked about the “crazy” demand for Blackwell chips. Between US$30,000 and US$40,000 per unitis expected to increase in the fourth quarter and continue through fiscal 2026.
The stock rose for other reasons last month, too. On September 23, Nvidia’s stock price rose 4% after a document showed that Huang completed the sale of the company’s shares.
—CNBC’s Michael Bloom contributed to this report.
