Chip

Elon Musk

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<p class="has-drop-cap">Nvidia’s (NASDAQ: NVDA) stock surged on Thursday following CEO Jensen Huang’s <a aria-label="remarks (opens in a new tab)" href="https://www.cnbc.com/2024/10/03/nvidia-ceo-demand-for-blackwell-ai-chip-is-insane.html" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">remarks</a> about the company’s <a href="https://tokenist.com/nvidia-unveils-new-chip-architecture-analyst-forecasts-10-trillion-valuation-by-2030/" rel="noopener noreferrer nofollow" class="deco-link">next-generation GPU chip</a>, Blackwell, and its participation in <a aria-label="OpenAI's recent funding round (opens in a new tab)" href="https://www.reuters.com/technology/artificial-intelligence/openai-closes-66-billion-funding-haul-valuation-157-billion-with-investment-2024-10-02/" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">OpenAI’s recent funding round</a>. The tech giant’s shares have seen a meteoric rise of 149% year-to-date, reflecting strong investor confidence in its AI-driven growth strategy.</p>
<h3 id="demand-for-nvidia-s-next-gen-gpu-chip-is-insane-ceo-says">Demand for Nvidia’s Next-Gen GPU Chip is “Insane”, CEO Says</h3>
<p>Nvidia’s CEO Jensen Huang declared that “demand for Blackwell is insane” during a recent interview, sparking a 5% jump in the company’s stock price. Blackwell, Nvidia’s next-generation GPU chip, is now in full production despite earlier reports of slight delays due to small redesigns. <br><br>Huang emphasized Nvidia’s commitment to increasing GPU performance by two to three times each year, positioning the company to deliver faster and more efficient chips to customers annually.</p>
<p>The intense demand for Nvidia’s chips was further highlighted by Oracle cofounder Larry Ellison, who revealed that he and Elon Musk “<a href="https://fortune.com/2024/09/16/larry-ellison-elon-musk-begged-nvidias-jensen-huang-more-gpus-fancy-sushi-dinner/" target="_blank" aria-label="begged (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">begged</a>” Huang for more GPU chips during a dinner meeting. Ellison recounted telling Huang, “Please take our money. We need you to take more of our money.”</p>
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<h3 id="nvidia-participated-in-openai-s-latest-funding-round">Nvidia Participated in OpenAI’s Latest Funding Round</h3>
<p>In a significant move, Nvidia has participated in OpenAI’s latest funding round, which closed at a post-money valuation of $157 billion. The round, led by Thrive Capital, raised $6.6 billion and included other major investors such as Microsoft (NASDAQ: MSFT) and SoftBank. While the specific amount invested by Nvidia was not disclosed, this participation signals the company’s strategic interest in the rapidly evolving AI landscape.</p>
<p>OpenAI’s remarkable growth is evident in its financials, with the company generating $300 million in revenue last month, a staggering 1,700% increase since early last year. The AI firm projects sales of $11.6 billion next year, up from $3.7 billion in 2024. With 250 million weekly active users on ChatGPT, including 11 million ChatGPT Plus subscribers and 1 million paying business users, OpenAI’s explosive growth aligns perfectly with Nvidia’s vision for AI-driven computing.</p>
<p>As of 11:53 AM EDT on Thursday, Nvidia’s stock was trading at $123.24, up 3.69% for the day. The company’s market capitalization stood at an impressive $3.023 trillion, with a trailing <a href="https://tokenist.com/investing/p-e-ratio/" rel="noopener noreferrer nofollow" class="deco-link">P/E ratio</a> of 55.72 and earnings per share of $2.13. <br><br>Nvidia’s year-to-date return of 148.91% significantly outpaces the S&amp;P 500’s 19.70% gain, reflecting the market’s enthusiasm for AI-related stocks. With a profit margin of 55.04% and a return on equity of 123.77%, Nvidia continues to demonstrate strong financial performance, solidifying its position as a leader in the AI revolution.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/nvidia-stock-up-over-150-ytd-ceo-says-demand-for-new-chip-is-insane/">Nvidia Stock Up Over 150% YTD, CEO Says Demand for New Chip is “Insane”</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Nvidia Stock Up Over 150% YTD, CEO Says Demand for New Chip is “Insane”

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