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Nvidia's CEO Jensen Huang is set to unveil advanced AI and quantum computing chips at the company's annual developers conference in San Jose, dismissing concerns over China's DeepSeek potentially disrupting the market. Expectations are high for the introduction of the latest Blackwell line of graphics processing units (GPUs) and updates in development, fueled by the ongoing AI boom that has significantly boosted Nvidia's stock.
NVIDIA Corporation (NASDAQ: NVDA) remains a key player in the AI sector, despite a recent stock dip following CEO Jensen Huang's remarks at a major tech conference. Huang emphasized the increasing computational demands of AI, asserting that the company is well-positioned amid rising competition from firms like Tencent and Baidu, which are launching new AI tools and models. UBS maintains a bullish outlook on NVIDIA, reiterating a "Buy" rating with a $185 price target, highlighting the company's diverse AI offerings beyond just data centers.
Nvidia CEO Jensen Huang highlighted Huawei's significant advancements in AI, noting its emergence as a formidable competitor despite U.S. trade restrictions. He emphasized that Huawei's resilience and strategic partnerships have allowed it to thrive across various markets, with plans to ramp up production of AI chips this year. The company is also testing domestic EUV chipmaking equipment, aiming for mass production soon.
Nvidia CEO Jensen Huang recognizes Huawei as a formidable competitor in the AI chip market, noting its growing presence despite US sanctions. He emphasizes that Huawei is emerging as a significant player in the global AI landscape, aiming to develop alternatives to Nvidia's chips. The company's recent successes in the Chinese tech industry, including surpassing Apple in premium phone sales, indicate that efforts to suppress Huawei may be ineffective.
Nvidia CEO Jensen Huang labeled Huawei as China's "single most formidable technology company," highlighting its growing influence in artificial intelligence despite US restrictions. He criticized the US government's approach to curbing Huawei, stating it was "done poorly" and acknowledging the company's success in various markets.In other news, Huang denied involvement in any consortium to acquire a stake in Intel, clarifying that he had not been approached regarding such a deal, amidst reports of discussions involving TSMC and other tech firms.
Nvidia plans to invest a significant portion of its $500 billion electronics budget in the US over the next four years, focusing on US-based manufacturing. CEO Jensen Huang stated that this investment aims to bolster the growth of the US AI industry. The company has not yet commented on the report.
UBS analyst Timothy Arcuri has reaffirmed a Buy rating on NVIDIA, maintaining a price target of $185, citing the company's impressive 114% sales growth and strong data center revenue projections. With a perfect Piotroski score and a robust gross margin of 75%, NVIDIA is positioned as a leader in the semiconductor sector, particularly in infrastructure for large-scale deployments. Other analysts, including Benchmark and Truist, also support NVIDIA's growth potential, highlighting its strong product roadmap and demand for computing power.
UBS analyst Timothy Arcuri has reiterated a "Buy" rating for NVIDIA, maintaining a price target of $185, citing the company's strong market position and projected data center revenue growth. With a market value of $2.9 trillion and a 114% sales increase over the past year, NVIDIA is expected to see its data center revenues potentially double by 2028, leading to an estimated EPS of $12. Analysts from Benchmark and Truist also support NVIDIA's growth prospects, highlighting its robust product roadmap and demand for computing power.
Nvidia CEO Jensen Huang has denied any involvement in a potential acquisition of Intel, stating that the company has not been approached to buy a stake. At a developer conference in San Jose, he dismissed rumors of a consortium acquiring Intel and clarified that Nvidia has not been invited to participate in any discussions.
Google has agreed to acquire cybersecurity startup Wiz for $32 billion, enhancing its cloud security features. Meanwhile, Nvidia unveiled new AI chips at its GTC conference, while computer programming jobs hit a 40-year low, partly due to the rise of generative AI tools. Intel's new CEO, Lip-Bu Tan, is expected to implement significant changes to revive the company, focusing on AI strategies and customer acquisition.
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