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Nvidia stock rose as much as 5% on Thursday after CEO Jensen Huang noted strong demand for its Blackwell GPU.
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Huang confirmed Blackwell chips are in full production despite earlier redesign delays.
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Nvidia aims to enhance GPU performance annually, impacting customer revenue and costs.
Nvidia stock jumped as much as 5% on Thursday following comments from CEO Jensen Huang about the strong demand the company is experiencing for its next-generation Blackwell GPU chips.
The stock pared some gains and was up about 3% to trade at $122.47 at 10:30 a.m. ET. Shares of Nvidia have been on a tear, rising 149% year-to-date, making it the second-best-performing S&P 500 stock this year.
“Demand for Blackwell is insane,” Huang said in an interview with CNBC on Wednesday after the market close.
Huang addressed the state of production for the Blackwell chip, as reports of small redesigns to the chip earlier this year led to slight delays in its rollout to customers.
“Blackwell is in full production, Blackwell is as planned,” Huang said. “Everybody wants to have the most and everybody wants to be first.”
Those comments align with the comments of some of Nvidia’s biggest customers, including Oracle cofounder Larry Ellison.
Earlier this month, Ellison said he and Elon Musk “begged” for more GPU chips during a dinner with Huang.
Ellison said they told Huang, “Please take our money. We need you to take more of our money.”
In the CNBC interview on Wednesday, Huang also reiterated that the company is on track to deliver a faster and more efficient GPU chip to customers every year.
“If we can increase the performance as we’ve done with Hopper to Blackwell by two to three times each year, we’re effectively increasing the revenues or the throughput of our customers on these infrastructures by a couple times each year, or you could think about it as decreasing costs every two or three years,” Huang said.
He added: “We’re on a path to do that and everything’s on track.”
Huang emphasized in the interview that Nvidia has its fingerprints all over various layers of the computing stack, from GPU chips to software to networking components.
“This is a brand new way of doing computing, and we’re dedicated to build the entire stack and reinvent every layer of the technology stack so that… every company in the world can benefit from this revolutionary new technology we call AI,” Huang said.
Read the original article on Business Insider
