Nvidia’s stock surged on Thursday, driven by CEO Jensen Huang’s optimistic remarks about the company’s next-generation Blackwell GPU chips. Despite earlier reports of design tweaks causing minor delays, Huang confirmed that production is now in full swing. The company’s commitment to annually boosting GPU performance is expected to have a significant impact on customer revenue and costs. Nvidia’s shares have been on a remarkable upward trajectory, with a 149% year-to-date increase, making it the second-best performer in the S&P 500 index.
Huang’s comments, made in a CNBC interview, echoed those of major clients like Oracle co-founder Larry Ellison, who recently revealed that he and Elon Musk had pleaded with Huang to supply more GPU chips. “Everybody wants to have the most and everybody wants to be first,” Huang said, highlighting the intense demand for Blackwell chips.
The CEO reiterated Nvidia’s goal of delivering faster and more efficient GPU chips to customers every year, which would effectively double or triple their revenue or throughput. This would also translate to significant cost savings for customers over time. Huang emphasized that Nvidia is focused on building a comprehensive computing stack, encompassing GPU chips, software, and networking components, to revolutionize the way companies operate with AI technology.
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