"AI Weathervane"! Wall Street Optimism Rises as NVIDIA's GTC Conference Comes Back to Life
On Monday, NVIDIA's GTC will kick off at the San Jose Convention Center, and CEO Jen-Hsun Huang will deliver a keynote address at 4 p.m. EST.
NVIDIA is expected to unveil its next-generation Blackwell GPU architecture, a new B100 GPU based on Blackwell, updates to the company's CUDA software, and chips for the Chinese market.
Jen-Hsun Huang said in a pre-event press conference, "GTC has become the most important AI conference in the world because the entire ecosystem is there to share knowledge and advance state-of-the-art technologies."
While the event is geared toward developers and partners, Wall Street is most interested in updates on NVIDIA's latest GPU offering, Blackwell.
Dan Ives, an analyst at Wedbush Securities, said, "All Wall Street eyes will be on the details and pricing of the new Blackwell B100 AI chip and architecture, as this represents another pioneering moment in the AI industry's look to the future."
Other Wall Street firms are excited about the NVIDIA GTC conference. HSBC raised its price target on NVIDIA from $888 to $1,050 ahead of the event. HSBC said it was "encouraged" by the company's AI product roadmap as NVIDIA looks to go beyond GPUs and "own the entire value chain." $NVIDIA (NVDA.US)$ $Advanced Micro Devices (AMD.US)$
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