Nvidia stock opens at record high after positive product updates
Investing.com-- NVIDIA (NASDAQ:NVDA ) CEO Jensen Huang unveiled the company’s latest line of RTX graphical processing units, while also stating that the company's Blackwell artificial chips were now in full production.
Shares in the chipmaker opened at $153.03 on Tuesday, which marks a fresh record high for the undisputed AI winner.
Speaking at the Consumer Electronics Show in Las Vegas, Huang said the new GPUs- the RTX 50 series, will boast at least twice the performance of their predecessors, the 40 series, and will use AI to improve their graphical processing abilities.
The flagship GPU in the new line will be the RTX 5090.
Huang said Nvidia's next generation Blackwell AI chips were in full production. The Blackwell line is expected to underscore Nvidia's next wave of earnings growth, as major technology firms ramp up capital spending on data center infrastructure to power their AI development.
The Nvidia CEO took the stage donned in his trademark black leather jacket, and claimed that the Blackwell line would be far more power efficient that its predecessors, while offering substantially more performance.
Huang also unveiled Nvidia's in-house AI models, which will run locally on Nvidia's chips, while also highlighting the potential for "AI agents"- AI programs built to handle domain-specific tasks.
Nvidia shares hit a record high on Monday in anticipation of Huang’s address.
The company is at the heart of a massive valuation boom that added about $2 trillion to its market capitalization in the past year, as investors cheered its exposure to the AI boom.
Nvidia makes the most advanced AI chips in the market, with its Blackwell lineup already seeing strong demand and potential supply shortfalls in 2025.
Nvidia clocked back-to-back quarters of stellar earnings growth on the AI boom. But its guidance for the current quarter disappointed some lofty expectations, raising doubts over just how much more earnings growth AI will elicit.
Source: Investing.com
