Investor concerns regarding the momentum of artificial intelligence (AI) and a lofty valuation have punished the chipmaker. The future still looks bright.
US markets dipped again on Thursday as escalating geopolitical tensions in the Middle East pushed oil prices higher. The Dow Jones Industrial Average fell 285 points, or 0.7% while the S&P 500 index was down 0.3% at 5,692.05.
Chipmaker Nvidia Corp (NASDAQ:NVDA) is a staple on Senior Quantitative Analyst Rocky White's list of stocks that attracted the most options volume over the last two weeks.
Nvidia (NVDA, Financial) insiders have sold over $1.8 billion worth of shares this year, with more sales potentially on the horizon. According to data from Washington Service, Nvidia executives and directors have offloaded nearly 11 million shares in 2024, marking the highest annual sell-off since at least 2020.
Nvidia (NVDA, Financial) stock experienced a notable increase, with the price rising by 4.2% to $123.05. This movement is attributed to the CEO's comments on strong demand for Nvidia's upcoming Blackwell chip, which is poised to enhance AI capabilities and is scheduled for a Q4 release.
NVIDIA (NVDA, Financial) shares rose by as much as 4.6% after CEO Jensen Huang provided an optimistic outlook on the company's latest Blackwell chip. In an interview, Huang mentioned that "Blackwell is in full production and demand is reaching a frenzied level.
To gain an edge, this is what you need to know today.
Once the darling of the entire stock market, Nvidia Co. NASDAQ: NVDA is now raising some suspicion as to whether this stock is now in correction territory or whether bulls are only consolidating before coming in with the next wave of aggressive buying. Investors can know this by looking at the chart during the past quarter.
An SEC filing dated October 1 reveals that billionaire venture capitalist and partner at S-Cubed Capital, Mark Stevens, a member of Nvidia's (NASDAQ: NVDA) board of directors, has sold 40,000 Nvidia shares at a price of $121.0089.
Nvidia CEO Jensen Huang said in an interview with CNBC's "Closing Bell Overtime" that demand for the company's next-generation artificial intelligence chip Blackwell is "insane." Blackwell, expected to cost between $30,000 and $40,000 per unit, is in hot demand from companies like OpenAI, Microsoft, Meta and other firms building AI data centers.
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.
Nvidia (NVDA) CEO Jensen Huang confirmed the company's next-generation Blackwell chip is in full production amid "insane" demand from buyers. Jenny Horne says it's a signal that "nothing can go wrong" with the supply chain.