Nvidia CEO Boosts Stock Value by Mentioning Dell and Ansys

Nvidia CEO Boosts Stock Value by Mentioning Dell and Ansys

(Bloomberg) — Nvidia Corp. CEO Jensen Huang’s much-anticipated speech failed to move the needle for its stock. But it turned out to be beneficial for many of the company’s customers and partners.

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Although Nvidia shares fell nearly 2% in post-market trading after the executive unveiled a new processor model called Blackwell, Huang’s touts to other companies — during a two-hour presentation Monday at San Jose, California – sent their shares soaring.

Engineering software makers Synopsys Inc., Cadence Design Systems Inc. and Ansys Inc. rose more than 2% after Huang said the companies would use their new Blackwell-based processors to make more improvements in of artificial intelligence to their products.

And Dell Technologies Inc. gained as much as 3.2% after Huang denounced the maker of servers and personal computers.

“Everybody that’s building these chatbots and this generative AI, when you’re ready to run them, you’re going to need an AI factory,” said Huang, who nodded to CEO Michael Dell in the audience . “No one is better than Dell at building end-to-end, hyper-scale systems for businesses.”

Software makers such as SAP SE and ServiceNow Inc. also rose after Huang said they were using Nvidia’s platform to develop services.

“The enterprise IT sector is sitting on a gold mine,” he said. “They understand very well how the work is done, they have all these incredible tools that have been created over the years, and they rely on a lot of data. »

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