Nvidia shares up 5.6%

13 April 2021
4951
2 min.
5
Nvidia shares up 5.6%

Nvidia shares

NVIDIA held a conference call on Monday announcing its Grace server chip, BlueField-3 DPU, new NVIDIA RTX graphics chips and other new products, and raised its financial outlook for the current quarter. Intel shares were down 4.2%.

NVIDIA (NVDA) shares gained 5.6 percent on Monday, approaching the highs reached in February.

On April 12, NVIDIA demonstrated another leap in technology. Investor enthusiasm was driven by a number of positive announcements about new products, technologies and partnerships made by the company during an online conference call.

NVIDIA has long focused primarily on graphics processors rather than CPUs, but its recent success suggests that the company is determined to take a significant share of the market, which is dominated by Intel (INTC).

On Monday, NVIDIA unveiled its high-performance Grace processor, which is based on Arm architecture and designed to solve artificial intelligence problems in data centres.

NVIDIA CEO Jensen Huang announced that the Swiss National Supercomputer Center will build an Alps supercomputer based on Grace and NVIDIA's next-generation GPU. The US Department of Energy's National Laboratory in Los Alamos will also unveil a Grace-based supercomputer in 2023.

NVIDIA data centre products are now the company's fastest growing segment, with revenue for the fiscal year ended Jan. 31, 2020 growing 124 percent to $6.7 billion, while its core graphics chip business grew a relatively modest 41 percent to $7.76 billion.

Amid a stronger competitive threat from Nvidia, Intel shares fell 4.2% and AMD (AMD) shares fell 5%.

Forecasts from Nvidia

Despite the global shortage of semiconductors, Nvidia hopes to benefit from limited supply and strong demand for chips for data centre and cryptocurrency mining.

Nvidia's CFO said: "We expect demand to continue to exceed supply for most of this year. We believe we will have enough inventory to support consistent growth after the first quarter".

NVIDIA also raised its first-quarter revenue forecast for its new CMP product for industrial cryptocurrency mining from the previously expected $50 million to $150 million.

Persons1 and Companies4 in the news

president and CEO of the Nvidia Corporation
1 place
NVIDIA
2 place
Intel
4 place
Section:
Rating companies
Netflix
18 Mention
Instagram
16 Mention
X (Twitter)
11 Mention
Tesla
10 Mention
Amazon
8 Mention
TikTok
8 Mention
White House
7 Mention

NEW YORK NEWS

News from GlobalNY.biz is the freshest and most relevant information about high-profile events in the region. The task of the resource's news feed is to convey to readers with maximum accuracy and objectivity information about important events in business, politics, economy, healthcare, culture and other spheres of life in New York.
GlobalNY.biz news is a coverage of economic processes taking place in New York, the latest news of public life, incidents and an overview of political events. New York news is information about the activities of small and medium-sized businesses, the work of housing and communal services and utilities, the implementation of significant projects.
The site's journalists describe not only the life of the region, but also talk about the current state of the US economy. Everything you need to know about innovations in the field of industry and agriculture, economy and power is collected in the "News" section at GlobalNY.biz.
New York news quickly informs the reader, shows the real picture and opens up hot topics. Communication with government structures and business enables us to provide our readers with reliable, information-rich material. The main page of the portal contains the key news of New York!
Alena Potapova

Development Director
Population
8160350848
Died this year
46933194
Born this year
115463964