Nvidia Stock Drops Despite the Company’s Gtc Unveiling of the Rtx and Geforce Rtx Graphics Cards.

Nvidia stock

Nvidia Stock (NASDAQ:NVDA)

Despite announcing a new high-end RTX GPU and GeForce GPUs at its GTC presentation on Tuesday, Nvidia stock plummeted.

Nvidia, led by Jensen Huang, unveiled its new RTX 4090 GPU, which will retail for $1,599. On October 12, you can get your hands on it.

Nvidia (NASDAQ:NVDA) likewise announced its brand new GeForce GPUs. The new chips will be available in November for $899 and $1,199, respectively.

The company also revealed that the new RTX 6000 workstation GPU from Nvidia (NASDAQ:NVDA) will be released in December.

Nvidia (NASDAQ:NVDA), based in Santa Clara, California, announced the debut of its new Ada Lovelace graphics chips and the introduction of the NVIDIA IGX platform for high-precision edge AI the following month.

The IGX platform is designed for both industrial and medical applications, and it may be used in places like warehouses and hospitals to aid in things like robotic-assisted surgery and patient monitoring.

With the rise of human-robot collaboration, Huang notes that “new functional safety requirements for AI and computers” are being developed. As NVIDIA puts it, “NVIDIA IGX will help firms construct the next generation of software-defined industrial and medical devices that can safely work in the same environment as humans.”

Following the announcements on Tuesday, Nvidia stock dropped by almost 2% by midday.

New system-on-modules, Jetson Orin Nano, highlighted the company’s demonstrations for robotics developers.

The Orin Nano can provide the most compact delivery of artificial intelligence (up to 40T TOPS) in the market.

It supports various sensors and is powered by Nvidia (NASDAQ:NVDA) Ampere architecture GPU and Arm-based CPUs with next-generation deep learning, faster memory bandwidth, and high-speed connections.

The new Jetson Orin Nano modules begin at $199 and will be released in January.

Nvidia (NASDAQ:NVDA) said that it would deepen its collaboration with Booz Allen Hamilton (BAH) to provide artificial intelligence (AI)-enabled cybersecurity platform to commercial and government clients.

Speaking on an analyst call, Huang detailed the three parts of the omniverse platform and assured listeners that OVX machines were being manufactured at total capacity and shipped out as quickly as possible.

After the web browser, “I believe that omniverse will be one of the first applications that cross nearly every company,” Huang predicted.

It’s still early days for the platform as a whole, but Huang has predicted that it will follow a revenue model not dissimilar to cloud computing.

According to Huang, the current implementation of the omniverse is hosted on Amazon (AMZN) Web Services, but expansion to other cloud providers is in the works.

Nvidia (NASDAQ:NVDA) CFO Colette Kress recently addressed questions about the company’s gaming sector, saying that the industry is still responsible for the “strong” sell-through of Nvidia (NASDAQ:NVDA) products and that demand for these goods remains high.

Citi, a global financial firm, included Nvidia stock on its list of top buy and sell calls across all industries, including IT, earlier this week.

Featured Image – Megapixl © Danielconstante 

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About the author: I'm a financial journalist with more than 1.5 years of experience. I have worked for different financial companies and covered stocks listed on ASX, NYSE, NASDAQ, etc. I have a degree in marketing from Bahria University Islamabad Campus (BUIC), Pakistan.