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Chennai Stock:What❼Going On With Nvidia Stock On Wednesday?

Admin88 2024-11-07 1 0

What❼Going On With Nvidia Stock On Wednesday?

Nvidia Corp stock is trading lower Wednesday after Nvidia chief Jensen Huang acknowledged to Reuters that Taiwan Semiconductor Manufacturing Co assisted in resolving a design flaw in its latest Blackwell AI chips.

Nvidia discovered the glitch after showcasing the chips in March, which led to production delays, affecting hyperscalar customers like like Meta Platforms Inc , Alphabet Inc Google, and Microsoft Corp .

Huang took complete responsibility for the fault, which resulted in low yield.

Also Read: Nvidia Joins Big Tech Hyperscalers At HLTH Conference, Partners With Microsoft To Drive AI Innovations

Nvidia plans to ship the Blackwell chips in the fourth quarter after initially targeting the second quarter.

Last week’s report indicated that Amazon.Com Inc and Amazon Web Services’ data center plans were delayed due to a production issue with Nvidia’s Blackwell chips and will not be available before 2025.

Amazon inked a five-year partnership with AI and data startup Databricks to provide businesses with more affordable AI development tools. The collaboration leverages Amazon’s Trainium AI chips, a lower-cost alternative to Nvidia’s GPUs.Chennai Stock

Meanwhile, Nvidia continued expanding its geographical footprint, co-developing a custom AI chip with India and eye investments in Thailand.

Analysts remained upbeat on Nvidia’s prospects despite reports indicating a delay in Blackwell chip production.

Beth Kindig of I/O Fund expects Blackwell chips to be pivotal in helping Nvidia reach a $10 trillion valuation by 2025. KeyBanc’s John Vinh projects the chips to generate over $7 billion in revenues in the fourth quarter.

CNBC’s Jim Cramer and Wedbush’s Dan Ives remained upbeat on the chip designer’s prospects.

Nvidia stock gained 224% in the last 12 months. Investors can gain exposure to the stock through SPDR S&P 500 and iShares Core S&P 500 ETF .

Price Action: NVDA stock is down 2.69% at $139.82 at the last check on Wednesday.Agra Wealth Management

Also Read:

Microsoft, Salesforce Battle Heats Up As AI Agent Technology Takes Center Stage


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