Nvidia shares rose last week as investors welcomed Chief Executive Jensen Huang’s comments about the launch of the company’s new artificial intelligence chips. Blackwell — Nvidia’s next-generation processor — has been in Wall Street’s spotlight amid some delays. That issue, along with a number of other concerns, has hit the company’s stock price in recent weeks. But Huang sought to reassure investors at the Goldman Sachs Communacopia+ technology conference in San Francisco. “We’re adding capacity to Blackwell. It’s at full production. We’ll be shipping and scaling up in the fourth quarter (fourth quarter), scaling up starting in the fourth quarter and continuing into next year…The demand for it is very high, every year Everyone wants to be No. 1,” he said Wednesday. He also talked about Nvidia’s competitors, supply chain and how it plans to protect its competitive advantage. The company’s shares rose 8% last Wednesday and nearly 16% over the week. In comparison, the Nasdaq rose 5.9%. Analysts remain extremely bullish on the future, with 94% giving the stock an “overweight” or “buy” rating, according to FactSet data. Their average price target for Nvidia gives it an upside potential of 25.5%. In case you missed it, here’s a summary of all the top analyst calls and more from the past week:
Nvidia shares rose nearly 16% last week – read the latest news on CNBC Pro | Real Time Headlines
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