{"id":209,"date":"2024-10-04T17:54:38","date_gmt":"2024-10-04T12:24:38","guid":{"rendered":"https:\/\/10on10.io\/?p=209"},"modified":"2024-10-04T17:54:52","modified_gmt":"2024-10-04T12:24:52","slug":"nvidia-stock-soars-following-ceo-jensen-huangs-remarks-on-record-demand-for-blackwell-ai-superchip","status":"publish","type":"post","link":"https:\/\/10on10.io\/?p=209","title":{"rendered":"Nvidia Stock Soars Following CEO Jensen Huang&#8217;s Remarks on Record Demand for Blackwell AI Superchip"},"content":{"rendered":"\n<p>On October 3, 2024, Nvidia CEO Jensen Huang reported during a CNBC interview that demand for the company\u2019s upcoming Blackwell \u201cSuperchip\u201d is exceptionally high, leading to a more than 3% increase in Nvidia shares on Thursday.<\/p>\n\n\n\n<p><strong>Key Highlights<\/strong><\/p>\n\n\n\n<ul>\n<li>Nvidia shares peaked at $124.26 before closing at $122.80, marking a 3.3% rise.<\/li>\n\n\n\n<li>Huang mentioned that companies such as Microsoft, OpenAI, and Meta are eager to acquire the Blackwell chip, emphasizing, \u201cEverybody wants to have the most and everybody wants to be first.\u201d<\/li>\n\n\n\n<li>This surge in stock price continues Nvidia&#8217;s upward trend, which started after a decline in early September when shares dropped to $102.83 despite the company reporting record revenues.<\/li>\n<\/ul>\n\n\n\n<p>Nvidia&#8217;s Blackwell products are expected to be delivered to cloud service divisions at major firms like Oracle, Amazon, Microsoft, and Google later this year.<\/p>\n\n\n\n<p><strong>Market Context<\/strong><\/p>\n\n\n\n<p>While Nvidia&#8217;s shares climbed, broader market trends showed the S&amp;P 500 decline, with the tech-heavy Nasdaq also finishing down by 0.17%. Following the stock jump, Huang&#8217;s net worth is now estimated at $107 billion, with a $3 billion increase on Thursday, making him the twelfth-richest person globally.<\/p>\n\n\n\n<p><strong>About Nvidia\u2019s Blackwell Superchip<\/strong><\/p>\n\n\n\n<p>The Blackwell chip is designed to rapidly train AI models while maintaining energy efficiency. Its anticipated price ranges from $30,000 to $40,000 per unit.<\/p>\n\n\n\n<p><strong>Background<\/strong><\/p>\n\n\n\n<p>The Blackwell chip is poised to solidify Nvidia&#8217;s position as a leader in the AI sector, continuing to serve tech giants like Microsoft, Meta, Alphabet, and Amazon, which significantly contribute to its revenue. Despite facing brief stock drops from July to September, Nvidia shares have risen over 147% this year, starting at $48.17 per share. The company achieved record revenues in its second quarter, reporting $30 billion in sales and $16.5 billion in net income. Notably, Nvidia&#8217;s datacenter division, which houses its AI offerings, generated $26.3 billion in revenue for the quarter, reflecting a remarkable 154% increase year-over-year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On October 3, 2024, Nvidia CEO Jensen Huang reported during a CNBC interview that demand for the company\u2019s upcoming Blackwell \u201cSuperchip\u201d is exceptionally high, leading to a more than 3% increase in Nvidia shares on Thursday. Key Highlights Nvidia&#8217;s Blackwell products are expected to be delivered to cloud service divisions at major firms like Oracle, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":210,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[55],"tags":[106,117,111,110,109,119,107,118,114,105,115,116,113,108,112],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>Nvidia Stock Soars Following CEO Jensen Huang&#039;s Remarks on Record Demand for Blackwell AI Superchip - 10on10<\/title>\r\n<meta name=\"description\" content=\"Nvidia shares surged as CEO Jensen Huang highlights unprecedented demand for the upcoming Blackwell superchip.\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/10on10.io\/?p=209\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Nvidia Stock Soars Following CEO Jensen Huang&#039;s Remarks on Record Demand for Blackwell AI Superchip - 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