NVIDIA’s (NVDA) CEO Keynote Spurring Partner Stocks Despite Stock Performance

NVIDIA’s (NVDA) CEO Keynote Spurring Partner Stocks Despite Stock Performance

NVIDIA Corp. (NVDA, Financial) CEO Jensen Huang’s recent keynote speech, although not significantly impacting NVIDIA’s own stock, proved beneficial for several of the company’s customers and partners. Despite NVIDIA’s shares dropping by about 3.3% following the announcement of a new processor design named Blackwell, the event was a boon for others.

Engineering software companies such as Synopsys Inc. (SNPS, Financial), Cadence Design Systems Inc. (CDNS, Financial), and Ansys Inc. (ANSS, Financial) saw their stock prices increase by approximately 1%. This uptick came after Huang highlighted that these firms would be incorporating NVIDIA’s Blackwell-based processors to enhance their products with more artificial intelligence capabilities.

Huang emphasized the critical role of NVIDIA’s technology in the development of AI-driven applications, stating, “Everybody who is building these chatbots and generative AI, when you’re ready to run it, you’re going to need an AI factory.” He acknowledged Dell Technologies (DELL, Financial) CEO Michael Dell (Trades, Portfolio), present in the audience, for their expertise in creating large-scale enterprise systems.

Additionally, SAP SE (SAP, Financial) experienced a positive stock movement following Huang’s mention of their use of NVIDIA’s platform for service development. Huang’s comments underscored the vast potential within the enterprise IT industry, driven by a deep understanding of work processes, a wealth of tools, and extensive data.

Source Reference

Latest stories