Nvidia Defies Market Fluctuations: Blackwell Chips and OpenAI Strengthen Position

Nvidia's shares surged by up to 5% on Thursday after CEO Jensen Huang reported strong demand for the upcoming Blackwell chips in an interview with CNBC. Despite initial delays due to design issues, the chips are now in full production according to Huang, giving investors hope for new momentum for the chipmaker. The delays had raised concerns among investors, especially after Nvidia's stock price came under pressure in July due to the unwinding of the yen carry trade. Market uncertainty was exacerbated by the general retreat from Big Tech and macroeconomic factors such as trade fears with China. However, the long-term outlook for the path of artificial intelligence remains predominantly positive. Nvidia was able to increase its stock by around 170% last year and by more than 2,700% over five years. This year, the value has risen by about 150%. A large portion of Wall Street analysts continue to recommend buying the stock. Nvidia rounds off its success with support from ChatGPT developer OpenAI. In its last funding round, OpenAI managed to acquire an additional $6.6 billion, raising the company's value to $157 billion – another signal of the boom in the AI industry. Gil Luria of DA Davidson told Yahoo Finance that the increased demand for data centers directly benefits Nvidia. He sees this as another reason for the company's current stock price rise.