- Nvidia stock closed up 1% on Tuesday, recovering from an earlier dip.
- CEO Jensen Huang announced the company’s new Blackwell artificial intelligence chips on Monday at Nvidia’s developer conference in San Jose, California.
- The first Blackwell chip, dubbed the GB200, will ship later this year.
- Huang estimated one chip could cost $30,000 to $40,000 and that the research and development budget for the processor totaled around $10 billion during an interview with CNBC’s “Squawk on the Street” on Tuesday.
Nvidia stock closed up 1% on Tuesday after CEO Jensen Huang said in an analyst meeting that the company expects to increase its share of the $250 billion data center market.
Huang’s comments were made a day after Nvidia announced its latest generation of artificial intelligence chips, called Blackwell, and a new AI software platform.
“You can build chips to make software run better, but you can’t create a new market without software. What makes us unique is that we’re the only chip company I believe that will create its own market,” he said during the meeting on Tuesday.
Shares had dipped about 2% before his comments sent the stock back up.
Huang announced the new chips on Monday at Nvidia’s developer conference in San Jose, California, touting them as even more powerful processors than the current generation of Hopper graphics processing units, which have been highly sought after for running large AI models. The first Blackwell chip is the GB200 and will ship later this year.
“We had to invent some new technology to make it possible,” said Huang, holding up one of the new chips during an interview with CNBC’s “Squawk on the Street” on Tuesday. He estimated one chip could cost $30,000 to $40,000 and that the research and development budget for the processor totaled around $10 billion.
https://www.cnbc.com/amp/2024/03/19/nvidia-stock-dips-after-company-unveils-latest-ai-chips.html
