Nvidia (NVDA) Shares Surge After CEO Highlights Soaring Demand for Blackwell Chips

Oct 03, 2024

Nvidia (NVDA, Financial) saw its stock rise by 3.4%, closing at $122.96. The increase follows statements from CEO Jensen Huang, who revealed an extraordinary demand for the company's upcoming Blackwell AI processors. Huang noted that demand has reached a "crazy" level as everyone wants to be the first to acquire the new chips.

The company plans to begin mass shipments of Blackwell in the fourth quarter. The new processors are expected to deliver performance 2.5 times greater than Nvidia's Hopper chips, which were released two years ago. Blackwell was introduced by Huang in March as the processor designed for the generative AI era.

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