NVIDIA CEO Jensen Huang: Blackwell demand overwhelming, leading to customer frustration; stock jumps over 8%
NVIDIA CEO Jensen Huang mentioned that the supply of Blackwell AI chips is so limited that it's frustrating some customers. He also hinted that, if necessary, NVIDIA might reduce its reliance on $Taiwan Semiconductor (TSM.US)$ and turn to other chip manufacturing suppliers. Additionally, it's been reported that the U.S. government is considering allowing NVIDIA to export advanced chips to Saudi Arabia.
Huang’s somewhat exaggerated remarks about the overwhelming demand for NVIDIA chips led the company to spearhead a strong V-shaped reversal in the U.S. stock market. NVIDIA surged over 8%, marking its largest single-day gain in six weeks. $Nasdaq Composite Index (.IXIC.US)$ rebounded to close up over 2%, and for the first time since October 2022, both $S&P 500 Index (.SPX.US)$ and $NASDAQ 100 Index (.NDX.US)$ fully erased intraday drops of at least 1.5%.
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