Nvidia's Stock Surges on AI Chip Demand, Nearing Record Highs

Nvidia shares are up 25% in the last month, rallying near a record ahead of tech earnings

Following a brief but dramatic dip in late August and early September, Nvidia has rebounded sharply. The stock was down slightly on Wednesday at around $132, just shy of its closing high of $135.58 reached in July. Nvidia has surpassed Microsoft as the second-most valuable company, behind only Apple. Nvidia has been the biggest beneficiary of the AI boom, as companies including Meta, OpenAI, Alphabet, Microsoft and Oracle continue to unveil technologies and products that require hefty investments in its graphics processing units (GPUs). In August, Nvidia reported second-quarter earnings that showed revenue rose 122% year-over-year while net income more than doubled to $16.6 billion. The company also gave stronger-than-expected guidance for the current quarter and said it expects to ship several billion dollars worth of its new Blackwell AI chip. Demand is so high that Nvidia expects shipments for its current-generation Hopper chip to increase over the next two quarters. "We see NVDA remaining the leader in the AI training and inference chips for Data Center applications, Mizuho analysts said in a note on Wednesday, estimating that the company has about 95% market share. The analysts have a $140 price target on the stock but noted risks in potentially escalating export restrictions to China, geopolitical tensions regarding Taiwan or a significant pullback in AI server spending. "Everybody wants to have the most and everybody wants to be first," CEO Jensen Huang said in an interview last week on CNBC's "Closing Bell Overtime, speaking of the "insane" demand for the Blackwell chip. Production for the GPU, which will cost between $30,000 and 40,000 per unit, is expected to ramp up in the fourth quarter and continue into fiscal 2026. The stock rallied for other reasons over the last month, too. Nvidia shares jumped 4% on Sept. 23, after a filing showed Huang finished selling the company's stock.

Nvidia Stock Approaching All-Time Highs on Continued AI Chip Sales Optimism

Nvidia shares, which have ended higher the past five sessions, recently edged up to $133.30. Their all-time closing high is $135.58, achieved on June 18, and record intraday high is $140.76, recorded the following session two days later, after markets were closed for Juneteenth. On Tuesday, contract electronics manufacturing giant Foxconn reported strong demand for its servers powered by Nvidia's GB200 semiconductors, part of the latter's Blackwell architecture. Microsoft announced it was "the 1st cloud" running the Blackwell system with GB200-powered AI servers. OpenAI also thanked Nvidia for delivering "one of the first engineering builds of the DGX B200 to our office." Nvida Says Blackwell Slashes Energy Consumption Also yesterday, Nvidia noted that the Blackwell platform has slashed energy consumption by up to 2,000 times over the last decade for AI training models such as OpenAI's GPT-4. Bob Pette, vice president and general manager of Nvidia's enterprise platforms, told participants at the company's AI Summit that "We are in the dawn of a new industrial revolution," adding that the firm is "designing our systems with not just performance in mind, but with energy efficiency in mind."

Nvidia's stock is breaking out, Fairlead Strategies says By Investing.com

AI behemoth NVIDIA's (NASDAQ:NVDA) stock is breaking out and could be heading to its June high of around $141 per share, according to technical analyst Katie Stockton of Fairlead Strategies. "Heavyweight Nvidia (NVDA) confirmed a triangle breakout yesterday, supporting near-term follow-through toward its June high (~$141)," Stockton said. "While the SPX and NDX have seen short-term momentum weaken, NVDA's breakout is likely to prevent a major pullback in the major indices, which is part of the reason why we keep a short-term neutral bias for U.S. equities in today's Fairlead Tactics." NVIDIA stock has been up six straight sessions, including today's fractional gain of 0.12%. The stock is up more than 170% year-to-date. Analysts have been increasingly bullish on the company's Blackwell product, which the CEO Jensen Huang said is seeing "insane" demand. "Blackwell is in full production, Blackwell is as planned, and demand for Blackwell is insane," Huang said on CNBC's last week. "Everyone wants the most, and everyone wants to be first." Today, Taiwan Semiconductor Manufacturing (NYSE:TSM) reported that September sales beat estimates on solid AI chip demand. TSM said revenue for September 2024 was approximately NT$251.87 billion, an increase of 0.4 percent from August 2024 and an increase of 39.6 percent from September 2023. TSM makes NVIDIA's AI chip. On Tuesday, analysts at Morgan Stanley (NYSE:MS) said Blackwell production revenue in 1Q25 may surpass Hopper. Blackwell chips command a price premium, with B200 chips priced 60-70% higher than H200, positioning Blackwell revenue to overtake Hopper in the upcoming quarter.

Why Nvidia Stock is Rising Again Tuesday, Nearing Record High

Colin is an Associate Editor focused on tech and financial news. He has more than three years of experience editing, proofreading, and fact-checking content on current financial events and politics. He received his M.A. in journalism from The New School and his B.A. in history and political science from McGill University. Nvidia (NVDA) stock rose on Tuesday after Foxconn, the world's largest contract electronics manufacturer, touted strong demand for artificial intelligence servers. Executives at Foxconn -- officially named Hon Hai Precision Industry -- said Tuesday at the company's annual tech day they were constructing in Mexico the world's largest facility for assembling AI servers to house Nvidia's GB200 chips, part of its Blackwell AI architecture. Young Liu, chair of Foxconn, said in an interview with Bloomberg Television that the company is aiming to produce 20,000 GB200 NVL72 servers at the factory in 2025. HSBC analysts have estimated the price of one GB200 NVL72 server is about $3 million. Demand for Nvidia's Blackwell system is "awfully huge," said Benjamin Ting, Foxconn's senior vice president of cloud enterprise solutions, at the company's tech day. Liu told Bloomberg demand was "crazy," echoing comments from Nvidia CEO Jensen Huang last week. Nvidia stock was up 3.5% early Tuesday afternoon, extending gains from yesterday when the company overtook Microsoft (MSFT) as America's second-most valuable company. The stock, which was trading near $133 on Tuesday, is approaching its record closing high of $135.57, which was set on June 18. Nvidia's all-time intraday high, set on June 20, is $140.76. Nvidia shares have more than doubled this year after rebounding from a summer slump amid reports that a design flaw would delay the rollout of the Blackwell system. Those reports coincided with a sell-off of big tech stocks as earnings disappointed and Wall Street questioned the wisdom of massive AI spending.

Nvidia CEO's bombshell raises the bar for the stock

Think of how Nvidia's GeForce 8800 chip, launched in 2006, changed the gaming landscape. Now, almost two decades later, Nvidia is still making that progression, with its Blackwell designed to change the world of artificial intelligence. Demand is "insane," Nvidia's chief executive Jensen Huang recently said. Major cloud providers like AWS, Azure, and Google Cloud are integrating Blackwell into their infrastructure to support high-performance AI workloads. Related: Nvidia CEO Jensen Huang just told investors what's next for the AI chipmaker Oracle announced on October 2 that it would need 131,072 Nvidia Blackwell GPUs as part of a $6.5 billion investment to establish a new public cloud region in Malaysia, another proof of a strong need for advanced AI processing capabilities. Blackwell is a platform Nvidia launched in March that allows organizations to run real-time generative AI on models with trillions of parameters. These large language models are trained on extensive datasets to understand and generate responses in human language. "Blackwell is in full production," Huang said in an interview with CNBC. "The demand for Blackwell is insane. Everybody wants to have the most, and everybody wants to be first." Hyperscaler buyers like Amazon (AMZN) , Microsoft (MSFT) , and Alphabet (GOOGL) are expected to spend around $160 billion in 2024 on AI infrastructure, according to Bernstein analysts. The cost of Blackwell is expected to range between $30,000 and $40,000 per unit. Huang emphasized the importance of continuous updates to Nvidia's AI infrastructure, with the company releasing new platforms annually. "If we can increase the performance, like we've done for Hopper and Blackwell ... we're effectively increasing the revenue or throughput for our customers on these infrastructures by a couple to three times each year," Huang added. Nvidia's financial performance exceeds expectations Nvidia's latest earnings report further solidifies its strong position in the AI market. On August 28, the company posted earnings per share of 68 cents, beating Wall Street expectations of 64 cents. Revenue hit $30.04 billion, up 122%, surpassing the anticipated $28.7 billion. Nvidia forecasts $32.5 billion in revenue for the current quarter, an 80% increase from last year. Related: Veteran trader targets Nvidia as shares slide Nvidia plans to ship Blackwell GPUs to clients in Q4 of this year, with a consumer release expected in 2025. "In the fourth quarter, we expect to ship several billion dollars in Blackwell revenue," Nvidia Chief Financial Officer Colette Kress said during the August earnings call. Nvidia's stock has surged by over 150% this year, following an impressive 240% gain in 2023. The company is now worth over $3 trillion, one of the most valuable companies in the world just behind Apple and Microsoft. Analyst sees "compelling" growth and valuation for Nvidia JPMorgan remains confident in Nvidia's outlook, maintaining an overweight rating and a $155 price target, thefly.com reported. "Nvidia remains on track to ship its next-generation Blackwell graphic processing unit platform in high volume production in Q4," the analyst tells investors in a research note on October 2, adding that investors do not have to pay too much attention to the recent sell-side noise on rackscale portfolio changes. Nvidia is halting development of its dual-rack 72-way GB200-based NVL36×2, TF International Securities's analyst Ming-Chi Kuo said on Oct. 1. Last month, Bank of America reiterated a buy rating and $165 price target on Nvidia, which the firm also calls its top sector pick. The firm warned of several near-term headwinds, including Blackwell's delay and gross margin pressure, a potential DOJ probe, competition, AI monetization, cloud capex, weak seasonality, and the U.S. elections. More AI Stocks: However, this could also create a buying opportunity. The stock is trading within the lowest quartile of valuation in the past five years, the analyst said. The firm highlights Nvidia's "compelling growth" and says upcoming supply chain updates in the next few weeks will confirm Blackwell product shipments, which they see as the main factor for a recovery. Related: The 10 best investing books, according to our stock market pros

Why Nvidia Stock Popped Again Today | The Motley Fool

Shares of Nvidia (NVDA 4.05%) gained for the fifth day in a row, as enthusiasm continued to build on Wall Street and among its customers for the new Blackwell platform. In addition, the company's artificial intelligence (AI) summit rolled on in its second day. That news was enough to drive Nvidia up 4.1% at market close. Wall Street continued to up its estimates on the AI chip leader, and news also broke that Foxconn and Nvidia are building Taiwan's largest supercomputer, built on the new Blackwell platform. Additionally, Foxconn is building the world's largest manufacturing facility for bundling Nvidia's GB200 Superchips in Mexico. The move should help assure investors and customers that Nvidia has an adequate supply of the new Blackwell components and shows the company diversifying away from Taiwan, which will help protect that supply from potential Chinese meddling. Nvidia's vice president and general manager of enterprise platforms, Bob Pette, also talked up the power of the company's accelerated computing stack at his keynote address at the Nvidia AI Summit. Pette told the audience, "We are in the dawn of a new industrial revolution," and said the Blackwell platform improves both performance and energy efficiency. Finally, Nvidia continued to earn plaudits from Wall Street, as Cantor Fitzgerald said Nvidia's updated investor presentation sets up a revitalization in the stock. The Information also said the latest $6.6 billion funding round would set off another wave of investments in AI. Fears of an AI bubble seem to be subsiding following the OpenAI funding round that sent its valuation to $157 billion, and falling interest rates should help drive spending on AI infrastructure. We'll soon get a look at third-quarter results of AI stocks like Microsoft and Alphabet, and Tesla's robotaxi event on Thursday should also provide some insight into the potential of autonomous vehicles. Nvidia's business continues to thrive, and it will likely report another blowout quarter next month. There's room for the stock to move higher, but investors should expect the stock to remain volatile.

Nvidia Stock: 3 Reasons the AI Superstar Can Move Higher in Q4 | The Motley Fool

In case you had forgotten that the stock market still belonged to Nvidia (NVDA 2.24%), its CEO, Jensen Huang, reminded investors in a CNBC interview last week. Demand for Nvidia's new Blackwell chip is "insane," he said, adding, "It [Blackwell] gives us an opportunity to triple down, to really drive the innovation cycle so that we can increase capabilities, increase our throughput, decrease our costs, decrease our energy consumption." While the Blackwell platform is highly anticipated by both Nvidia's customers and the investor community, the AI chip pioneer's stock has been stuck in neutral for the past few months after it peaked in June. Huang's latest comments helped spark a gain in Nvidia stock, but these three catalysts could power the stock even higher in the fourth quarter. Lately, Nvidia has been largely immune from the vicissitudes of the macro-level economy. The company has reported five straight quarters of triple-digit percentage revenue growth as it tries to fill seemingly insatiable demand for its AI components. While it's unlikely that either the Federal Reserve's interest rate cuts or the strong September jobs report will directly impact Nvidia's business, they should influence investor perception of the stock and valuation models related to it, as well as the capital expenditures of its key customers. In other words, lower interest rates should help loosen the purse strings of companies investing in AI, and increasing confidence in the strength of the economy will also quell doubts about the AI boom, as the two trends can reinforce each other in a virtuous cycle. Additionally, lower interest rates tend to lead to higher valuations for growth stocks like Nvidia due to the nature of the discounted cash flow model. That alone could add buoyancy to the stock price. Excitement for generative AI and its potential applications continues to build as the technology advances and companies deploy new products like Meta Platforms' new generative AI photo editor. The latest round of funding for OpenAI, which included an investment from Nvidia and valued the start-up at $157 billion, also shows that expectations for generative AI continue to grow. Building on that momentum, there are a number of AI events scheduled in Q4 that could drive Nvidia stock higher. For instance, the AI summit Nvidia is hosting from Monday through Wednesday of this week will include presentations and live demos on topics like generative AI, remote sensing, robotics, industrial digitization, and beyond. The company isn't expected to release new products at the conference, but favorable responses from industry insiders could drive the stock higher, as could other surprise announcements. The most anticipated AI-related event of the quarter is probably Tesla's robotaxi event, which is scheduled for Thursday. It's unclear what Tesla will unveil, but CEO Elon Musk has been talking up the idea that robotaxis will be transformative for his company for years now, so expectations are high. Importantly, Tesla's self-driving systems rely on Nvidia's AI hardware, and Musk has sung the company's praises on several occasions. Autonomous vehicles could be the next major frontier for Nvidia and AI, and Huang said in an interview in May that Tesla was "far ahead in self-driving cars." It will likely take a lot to impress Nvidia investors at this point, but Blackwell has yet to factor into the company's financial results. JPMorgan recently reaffirmed its expectations that Nvidia will generate several billion in sales from Blackwell in Q4, as it's still planning high-volume production of chips using the new platform this quarter. Morgan Stanley predicts more than $10 billion in Q4 revenue from Blackwell. With the company's Q3 earnings report due out in November, investors should be mindful of the Osborne effect -- the tendency of customers who know that better new tech is just around the corner to cancel their planned purchases of the soon-to-be prior-generation option. In short, it's possible some buyers may be delaying some AI chip purchases until the Blackwell lineup arrives. However, the new platform has the power to sustain Nvidia's soaring growth rate and advance generative AI applications, which would help assuage concerns about an AI bubble as companies are spending on AI infrastructure. However, there has yet to be a transformative and profitable use case for generative AI. Right now, one thing is clear with Blackwell, however. There's no shortage of demand. As Huang told CNBC earlier, "Blackwell is as planned. Everybody wants to have the most and everybody wants to be first."

Nvidia Stock Rallied (Again) Today and Is Near a New All-Time High. Is the Stock Still a Buy? | The Motley Fool

Even after an epic move higher, the artificial intelligence (AI) pioneer could still have room to run. Nvidia (NVDA 4.05%) stock has started off October with a bang. After suffering through an epic meltdown over the summer, things are beginning to look up. A lofty valuation and concerns about the current state of artificial intelligence (AI) adoption gave investors pause, sending the AI chip specialist skidding as much as 27%. However, Nvidia regained its footing early last month and has rallied more than 29% in the roughly four weeks since. The stock added to its tally today, climbing as much as 4.5%. By the time the market closed, the stock was still up 4.1%. After a rally of that magnitude, investors are wondering if the stock is still a buy. Nvidia stock has been on a blistering rally since the start of last year, with the stock gaining more than 800%. The advent of AI caused a mad dash for the company's graphics processing units (GPUs), which have the raw number-crunching capability needed to process AI. This insatiable demand showed in Nvidia's results, as the company generated five successive quarters of triple-digit, year-over-year sales and profit growth. However, when the company forecasted revenue growth of "just" 80%, fair-weather investors thought the sky was falling and headed for the hills. That may have been a costly blunder. In an interview last week, CEO Jensen Huang said the demand for Nvidia's next-generation Blackwell AI architecture is "insane." He went on to say, "Everybody wants to have the most, and everybody wants to be first." This comes in stark contrast to recent fears that demand for AI had peaked. Wall Street continues to bet on Nvidia in a big way. Cantor Fitzgerald analyst C.J. Muse is representative of the mood among analysts, noting Nvidia has "the best upside consensus" among all the stocks he covers, saying it's "far and away our Top Pick." One of the biggest sticking points for investors was Nvidia's lofty valuation, and at 62 times earnings, that concern is understandable. However, for Nvidia's 2026 fiscal year (which begins in January), Wall Street is predicting earnings per share of $4.02. At its current share price of about $133, that works out to about 33 times forward earnings, which is only a slight premium to the multiple of 30 for the S&P 500.

Nvidia's stock is climbing after Jensen Huang said there's 'insane' demand for its new AI chip

Nvidia's (NVDA) next-generation artificial intelligence chip is in full production, and demand for it is "insane," according to CEO Jensen Huang. "Everybody wants to have the most, and everybody wants to be first," Huang said about the company's highly anticipated AI platform, Blackwell, during a Wednesday evening appearance on CNBC. Shares of the chipmaker were up almost 3% during midday trading Thursday. Nvidia's stock has climbed over 152% so far this year. When the company reported second-quarter earnings in August, Huang said that the company had shipped samples of Blackwell to customers during the period and that Blackwell's production will ramp up in the fourth quarter into fiscal year 2026. To "improve production yield," Nvidia made a change to Blackwell's GPU mask, the chipmaker said. However, "there were no functional changes necessary," Huang said on a call with analysts. In early August, the chipmaker saw its shares fall after a report that Blackwell was delayed due to design flaws, possibly pushing deliveries back by at least three months. However, during its earnings call, Nvidia said it expects to "ship several billion dollars in Blackwell revenue," in the fourth quarter. The company added that demand for its Hopper chips remains strong and that it expects shipments to increase in the second half of the fiscal year. Huang said demand for Blackwell, which he previously said "is well above supply," was making customers "emotional" and "tense," during an interview at Goldman Sachs's (GS) technology conference in September. "At a time when the technology is moving so fast, it gives us an opportunity to triple down, to really drive the innovation cycle so that we can increase capabilities, increase our throughput, decrease our costs, decrease our energy consumption," Huang said during his interview on CNBC (CMCSA). "We're on a path to do that, and everything's on track."

Nvidia's CEO Says Demand for Its New Chips Is "Insane." Is It Time to Buy the Stock? | The Motley Fool

Nvidia (NVDA 1.69%) has been one of the best performing stocks the past few years, as demand has skyrocketed for its graphics processing units that help build out artificial intelligence (AI) infrastructure. The company is used to seeing high demand for its products, so it was noteworthy when in a recent CNBC interview, CEO Jensen Huang called demand for chips based on its new Blackwell architecture "insane." Let's take a closer look at Huang's comments and what it could mean for the stock. Blackwell is the newest architecture for Nvidia's graphics processing units (GPUs). The company introduced it earlier this year, saying it was the world's most powerful chip and that it would help customers run their real-time generative AI large language models (LLMs) at much lower cost and energy consumption than its predecessor chips. Huang told CNBC that after an initial delay due to a minor design flaw that affected manufacturing, Blackwell is in full production and going as planned. He then explained why the company decided to accelerate the pace of its innovation cycle to once a year, saying that if it can increase performance by two to three times each year, it will increase revenue and decrease costs and energy consumption for its customers each year. Undoubtedly this will also benefit Nvidia. It will keep it in the lead in a fast-moving technology, while also maintaining high demand and pricing power. The company already announced its next GPU architecture, called Rubin, scheduled for 2026. At an estimated cost of $30,000 to $40,000 per chip, having "insane" demand for Blackwell bodes very well for the company. When it introduced the technology, it said that a number of leading tech companies were already set to adopt Blackwell, including Alphabet, Amazon, Dell, Meta Platforms, Microsoft, OpenAI, Oracle, Tesla, and xAI. That's a lot of large companies fighting over Nvidia's latest GPUs. Based on the actions of Nvidia's customers, it does not appear that demand for its GPUs is likely to slow down anytime soon. For example, Oracle executive chairman Larry Ellison was asked on the company's second-quarter earnings call whether the demand for computing power would slow if there is a transition from AI training to AI inference. He replied that there was likely no end in sight over the next five to 10 years for demand as companies battle for AI technical supremacy. His company, for example, plans to double its own capital expenditures (capex) for fiscal 2025, which ends next May. Meanwhile, Alphabet and Meta Platforms said there's more risk by underinvesting in AI infrastructure than by overinvesting. Both companies are spending heavily on AI-related capex, with Meta already saying it expects its 2025 budget to be significantly higher than in 2024. Cloud computing leaders Amazon and Microsoft are pouring money into data centers to keep up with AI demand, while start-ups OpenAI and xAI are spending a boatload of money to develop more-advanced AI models. This race for more sophisticated AI models is creating the need for exponentially more computing power to train them. That power is provided by GPUs, which most likely were designed by Nvidia. For example, Meta says its Llama 4 LLM would likely need 10 times the GPUs as its predecessor Llama 3, while xAI's Grok-3 AI model requires five times as many GPUs to be trained as Grok-2 needed. All of this points to a need for a lot more GPUs in the future. In the world's race for more and more computing power, no company is in a better position than Nvidia. Besides the domination of its chips, there's the wide moat created by its CUDA software, which long ago became the de facto platform to program GPUs. At the same time, the stock is still reasonably priced despite its parabolic performance the past few years. Trading at a forward price-to-earnings ratio (P/E) of about 31 based on next year's analyst estimates, and a price/earnings-to-growth ratio (PEG) of 0.87, the stock is attractively priced given the demand that appears to still be ahead for its GPUs. A PEG under 1 is usually viewed as undervalued, and growth stocks will often have PEGs well above 1. With Nvidia talking about the insane demand for its Blackwell chips and its customers continuing to ramp up their AI spending, the stock remains a buy.

Nvidia surges as Jensen Huang touts 'insane' Blackwell demand

Huang's comments came on Wednesday, and coincided with a company announcement that is partnering with IT consulting giant Accenture to sustain corporate AI adoption. Nivida controls roughly 90% of the market for advanced AI chips. The company has been shipping as many of its now-famous GPUs, which are all but essential for firms training AI models, as it can make. Huang admitted earlier this month that managing customer relationships can be "emotional." Clients see acquiring Nvidia's product as a zero-sum game: Chips bought by the competition are vital inputs they waste time waiting for. That's likely even more true for the Blackwell chips, which are bigger and more powerful than those in the current "Hopper" lineup. "Blackwell is in full production, Blackwell is as planned, and the demand for Blackwell is insane," Huang told CNBC on Wednesday. "Everybody wants to have the most, and everybody wants to be first." Reports of design flaws and engineering snags delaying Blackwell's rollout may have weighed on the stock in recent months, but Nvidia is expected to begin selling the chips at the end of this year. The insatiable demand should not be a surprise, Angelo Zino, a senior vice president and tech equity analyst at CFRA Research, recently told Fortune. "When you kind of look at the performance boost that you're getting on Blackwell versus Hopper, every hyperscaler is going to aggressively buy this stuff up," he said, "not to mention enterprise customers and tier-two cloud players." The Gen AI boom, of course, quickly made Nvidia, which has added more than $2 trillion to its market cap in just over a year, one of the world's largest companies. The stock accounted for roughly 30% of the S&P 500's gains in the first half of the year, with shares up over 154% year to date. A dip earlier in the month saw the company shed almost $300 billion in market cap over a single day, the biggest ever drop for an American company, which Zino attributed largely to a mix of both profit-taking and what he called "AI fatigue." As tech giants tout the hundreds of billions they've recently spent on AI, some have questioned how long it will take for shareholders to see returns on that investment. There are also worries about whether companies outside of Big Tech are prepared and have the resources to adequately invest in AI adoption, even as they fear being left behind. "The Fortune 500 is not ready for Gen AI, that's the real issue," Ted Mortonson, a managing director and tech desk strategist at Baird, recently told Fortune. "So, we're building infrastructure right now, but if you look at even the Accenture numbers, they basically said that 10% of the Fortune 500 [has] moved to the cloud and [is] Gen AI ready." Nvidia's partnership with Accenture, which Huang said had been in the works for four months, bolsters the company's efforts to make AI tools more accessible to a broader set of clients. As part of the new deal, Accenture will create what it calls an "NVIDIA Business Group," which will consist of 30,000 employees focused on helping clients scale enterprise AI adoption and use tools like so-called "digital agents." Accenture, which has credited $3 billion in new business to clients demanding help deploying Gen AI, saw its stock rise 2% Thursday morning.

Demand for NVIDIA's Blackwell is 'insane' - Jensen Huang By Investing.com

NVIDIA Corporation (NASDAQ:NVDA) shares added 1% after hours Wednesday after CEO Jensen Huang said demand for its Blackwell product is "insane." "Blackwell is in full production, Blackwell is as planned, and demand for Blackwell is insane," Huang said on CNBC's Closing Bell Overtime Wednesday afternoon. "Everyone wants the most, and everyone wants to be first." Huang was on CNBC with Accenture's (NYSE:ACN) CEO Julie Sweet to discuss their expanded partnership. This includes Accenture's formation of a new NVIDIA Business Group to help the world's enterprises rapidly scale their AI adoption. "We are breaking significant new ground with our partnership with NVIDIA and enabling our clients to be at the forefront of using generative AI as a catalyst for reinvention," Sweet said in a statement earlier about the partnership. "Accenture AI Refinery will create opportunities for companies to reimagine their processes and operations, discover new ways of working, and scale AI solutions across the enterprise to help drive continuous change and create value." "AI will supercharge enterprises to scale innovation at greater speed," Huang said. "NVIDIA's platform, Accenture's AI Refinery and our combined expertise will help businesses and nations accelerate this transformation to drive unprecedented productivity and growth." Shares of NVIDIA gained 1.6% during the intra-day session Wednesday and are up 136% year-to-date.

Nvidia CEO Jensen Huang says demand for next-generation Blackwell AI chip is 'insane'

Nvidia CEO Jensen Huang: We're looking at the beginning of the next wave of AI Nvidia CEO Jensen Huang said in an interview with CNBC's "Closing Bell Overtime" that demand for the company's next-generation artificial intelligence chip Blackwell is "insane." "Everybody wants to have the most and everybody wants to be first," Huang said during the interview, which aired on Wednesday. Shares of Nvidia were up about 3% on Thursday morning. Blackwell, expected to cost between $30,000 and $40,000 per unit, is in hot demand from companies like OpenAI, Microsoft, Meta and other firms building AI data centers to power products like ChatGPT and Copilot. Nvidia has been the main beneficiary of the artificial intelligence boom, with shares up about 150% year-to-date. The company's revenue continued to surge during the fiscal second quarter to $30.04 billion, up 122% on an annual basis. It expects $32.5 billion in sales during the current quarter. "At a time when the technology is moving so fast, it gives us an opportunity to triple down, to really drive the innovation cycle so that we can increase capabilities, increase our throughput, decrease our costs, decrease our energy consumption," Huang told CNBC. "We're on a path to do that, and everything's on track." Chief Financial Officer Colette Kress said in August that the company expects to ship several billion dollars in Blackwell revenue in the company's fourth fiscal quarter. Jensen said Nvidia plans to update its AI platform each year to increase performance by two to three times.

Nvidia CEO Jensen Huang Says Demand For Next-Gen Blackwell GPU Platform Insane: 'Everyone Wants To Have The Most, And Everyone Wants To Be First' - NVIDIA (NASDAQ:NVDA)

On Wednesday, Jensen Huang, CEO of Nvidia Corporation NVDA said that the demand for the company's next-gen Blackwell GPU platform is "insane." What Happened: Huang was on CNBC's Closing Bell Overtime, alongside Julie Sweet, CEO of Accenture, to discuss their expanded partnership. During the conversation, he confirmed that Blackwell is in full production and progressing as planned. Huang introduced Blackwell in March as "a processor for the generative AI era." "Blackwell is in full production, Blackwell is as planned, and the demand for Blackwell is insane," he said on the show, adding, "Everyone wants to have the most, and everyone wants to be first." See Also: Tech YouTuber MKBHD Responds After Facing Massive Backlash Over His New $12 A Month Wallpaper App Nvidia is set to commence sales of Blackwell products in the fourth quarter. These new processors are expected to deliver 2.5 times the performance of Nvidia's Hopper chips, which were launched two years ago. Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox. Why It Matters: The Blackwell chip platform has been a topic of interest among investors and analysts. Last month, Nvidia faced investor scrutiny over delays in the chip's rollout. Despite these concerns, the company expects "several billion dollars" of revenue from Blackwell in its fiscal fourth quarter. Previously, Huang admitted that the surging demand for Blackwell chips was causing tension and frustration among some of Nvidia's customers due to limited supply. Having said that, analysts predict a bright future for Nvidia. Beth Kindig, lead tech analyst at I/O Fund, projected that Nvidia could surge to a $10 trillion valuation, largely due to the potential of the Blackwell chip. JPMorgan analyst Harlan Sur also asserted that the company is on track for a spectacular fiscal fourth quarter, thanks to the Blackwell GPU platform. Check out more of Benzinga's Consumer Tech coverage by following this link. Image via Flickr/ Maurizio Pesce Read Next: After Google's $2.7B Acquisition Of Founders And Staff, This AI Startup Abandons Large Language Model Plans And Shifts Focus Away From Chatbots Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs

Nvidia CEO Jensen Huang Says Demand for Its Chips Is 'Insane'

Nvidia shares have more than doubled in value since the start of the year as companies race to build out their AI infrastructure. Demand for Nvidia's (NVDA) AI chips is "insane," CEO Jensen Huang said in a televised interview Wednesday afternoon. Huang spoke during an interview on CNBC in connection with news of an expanded partnership with IT consulting firm Accenture (ACN) to help companies use artificial intelligence (AI) technology, the companies announced Wednesday. Shares of Nvidia, which closed 1.6% higher Wednesday, have more than doubled in value since the start of the year as companies have raced to buy the company's tech and build out AI infrastructure. Accenture shares moved 1.2% higher Wednesday and have gained about 1.5% in 2024 so far. As part of the deal, Accenture will form a new business group with consultants trained to help clients build custom AI solutions and capabilities with Nvidia's tech, as well as Meta's (META) Llama collection of open-source AI models. "This partnership allows us to span a large part of the world's AI demand," Huang said, adding "this is the beginning of a new wave called enterprise AI."

'Everybody Wants to Be First': Nvidia CEO Says Demand for Its Blackwell AI Chip Is 'Insane'

Nvidia counts Meta, Amazon, Microsoft, and Google as some of its biggest clients. In May, Nvidia CEO Jensen Huang said that "the next industrial revolution has begun," and AI will drive "significant productivity gains." It looks like he's right -- industry demand for Nvidia's next-generation AI chip, Blackwell, is through the roof. "Blackwell is in full production, Blackwell is as planned, and the demand for Blackwell is insane," Huang told CNBC on Thursday. "Everybody wants to have the most, and everybody wants to be first." Related: Nvidia CEO Jensen Huang's Biggest Worry Shows that Success Has a Downside Nvidia first announced Blackwell in March and stated that it was the most powerful AI chip in the world with advanced security capabilities, better performance, and more memory. The biggest names in AI, including OpenAI, Microsoft, Meta, Amazon, and Google, will use Blackwell to power their AI efforts. "There is currently nothing better than NVIDIA hardware for AI," Tesla and xAI CEO Elon Musk stated, at the time. Since the initial announcement, Blackwell has hit a few snags in production, leading to delays. Nvidia CFO Colette Kress said in late August that the company has fixed the issue and expects to ship "several billion dollars" worth of the chip in the fourth quarter of 2024. Huang said that Nvidia has updated its platform significantly with Blackwell, and intends to continue updating it. Nvidia has increased performance by two to three times from its 2022 Hopper chip to its Blackwell chip, which Huang says increases revenue for Nvidia's customers by two to three times. "What we're looking at now is the beginning of the next wave of AI, the biggest wave of AI," Huang told CNBC. "This is really about companies around the world using AI to be more productive as their digital employees and AI agents and co-pilots and however people describe them, as well as using AI, generative AI, to revolutionize the way they build their products and the products they build." Huang said last month that intense demand for Nvidia's technology and software keeps him up at night. On Wednesday, Nvidia partnered with Accenture to train 30,000 of Accenture's employees on Nvidia's technology.

NVIDIA's Blackwell Now In "Full-Force" Production ; Jensen Says That The Demand Is "Insane"

NVIDIA's CEO Jensen Huang has revealed that the next-gen Blackwell AI product portfolio is already in production and that demand is "insane." Team Green's Blackwell AI architecture has been a victim of "supposed" delays after it was initially said that the firm had faced an issue with the packaging technology incorporated in the architecture. It was said that NVIDIA would delay Blackwell into Q1 2025, but later on, Jensen revealed that Blackwell is on track, shipping by Q4 2024, but in small quantities. In an interview with CNBC, here is what NVIDIA's CEO Jensen Huang had to say: The thing that we have done with Blackwell, and what we have announced, this new AI infrastructure generation every single year, and so we're going to update our platform every single year. And, the reason for that is if we can increase the performance as we've done with Hopper to Blackwell by 2-3x each year we're effectively increasing the revenues or the throughput of our customers on these infrastructures by a couple (2-3x) each year, decrease, or how you can think about it decreasing cost every 2 or 3 years. - NVIDIA's CEO via CNBC Another interesting point announced by NVIDIA's CEO in the interview is that the firm is working towards reducing energy consumption by its AI products. However, given the vigorous innovation cycle the firm is currently in, they have faced difficulties in this matter. Jensen claims that everything is on track, and NVIDIA is spot-on when it comes to following product roadmaps. However, there are inconsistencies present, which we'll talk about next. It was recently reported by the prominent analyst Ming-Chi Kuo that NVIDIA plans to halt the development of its GB200 NVL36*2 AI server racks and will instead only offer NVL36 and NVL72 servers to its clients. It was said that Team Green is facing manufacturing complexities, and that moving with three different AI server configuration is difficult for the firm. While this certainly doesn't mean that the future of Blackwell is at stake, but it does show that even a firm as large as NVIDIA, is facing manufacturing and supply troubles. NVIDIA's Blackwell architecture is right on its way to be the firm's "most successful" product in their history, and based off the initial impression shown by the likes of Jensen, Blackwell is going to be explosive for the markets.

NVIDIA CEO: Blackwell is in full production, as planned, and demand for Blackwell is 'insane'

NVIDIA CEO Jensen Huang spoke with CNBC earlier today, commenting on its Blackwell AI GPUs and that they're in full production as planned, and that the "demand is insane, everyone wants to be first, everyone wants to have the most". Jensen told CNBC: "the thing that we have done with Blackwell, and what we have announced, this new AI infrastructure generation every single year, and so we're going to update our platform every single year and the reason foe that is if we can increase the performance as we've done with Hopper to Blackwell by 2-3x each year we're effectively increasing the revenues or the throughput of our customers on these infrastructures by a couple (2-3x) each year, decrease, or how you can think about it decreasing cost every 2 or 3 years".