Nvidia Shares Surge After CEO Highlights Demand for Blackwell AI Superchip.
Nvidia CEO Jensen Huang stated in a CNBC interview that demand for the company’s upcoming Blackwell chip is “insane,” driving shares to a peak of $124.26 on Thursday before settling at $122.80, marking a 3.3% increase. This strong trading day followed Huang’s remarks about heightened interest from major firms like Microsoft, OpenAI, and Meta, who are eager to be leaders in AI technology. He emphasized, “Everybody wants to have the most and everybody wants to be first.”
The stock’s rise continues a positive trend since early September, when Nvidia shares fell to $102.83 despite reporting record revenues. According to Nvidia, Blackwell-based products are expected to be shipped to cloud divisions at Oracle, Amazon, Microsoft, and Google later this year.
While Nvidia’s gains were notable, broader market trends showed the S&P 500 declined, with the tech-heavy Nasdaq closing down 0.17%. Huang’s financial success was also evident, as his net worth rose by $3 billion to $107 billion, making him the twelfth-richest person in the world.
