Nvidia Stock Sees Uptick as CFO Announces Arrival of New Chips

Nvidia Stock

Shares of Nvidia (NASDAQ:NVDA) saw a 1% increase on Tuesday following an announcement from the prominent chipmaker regarding the anticipated release of its latest flagship AI processor later this year.

During the company’s annual developer conference in San Jose, California, Chief Executive Jensen Huang and Chief Financial Officer Colette Kress addressed investors’ inquiries, leading to a reversal of earlier stock losses. Nvidia’s stock reached approximately $895 as Kress mentioned the expected commencement of shipments for the new AI chip.

“We anticipate entering the market later this year,” stated Kress in reference to Nvidia’s upcoming AI chip.

Market analysts noted that the debut of the B200 Blackwell chip has already been considered by Wall Street. Nvidia claims that this new chip is 30 times faster in certain tasks compared to its predecessor. CEO Huang disclosed that the Blackwell chip will be priced in the range of $30,000 to $40,000 during an interview with CNBC.

David Wagner, portfolio manager at Aptus Capital Advisors, commented on the Blackwell technology’s performance boost compared to the current flagship chip, Hopper, cautioning that meeting expectations might be challenging. Investors are still adjusting to an 80% surge in Nvidia’s stock since the beginning of the year.

In addition to unveiling the Blackwell chip, which integrates two silicon squares equivalent in size to the company’s previous offering, Nvidia outlined a new suite of software tools on Monday aimed at assisting developers in marketing artificial intelligence models more effectively to firms leveraging its technology.

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