Nvidia’s stock slips ahead of Jensen Huang’s GTC keynote
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Nvidia’s (NVDA-1.27%) stock was down by 1.76% at the market close on Monday ahead of chief executive Jensen Huang’s keynote at the GPU Technology Conference.
The chipmaker’s shares closed at $119.53 each and are down 11% so far this year. During after-hours trading, the stock was slightly down by around 0.1%.
All eyes will be on Huang’s keynote on Tuesday at the chipmaker’s annual developer conference, also known as the GTC, where he is expected to unveil its next artificial intelligence chips.
In February, Huang said he will share more about the company’s Blackwell Ultra AI chip, next-generation AI platform Vera Rubin, and other product plans at the conference. Nvidia has “some really exciting things to share” at the GTC about enterprise and agentic AI, reasoning models, and robotics, Huang said during the company’s fiscal fourth quarter earnings call.
Last week, analysts at Bank of America (BAC+1.89%) said in a note that they “expect Nvidia to present attractive albeit well-expected updates on Blackwell Ultra” at the GTC. The analysts added that they anticipate Nvidia will focus on inferencing for reasoning models, which major firms such as OpenAI and Google are racing to develop.
Jefferies (JEF+2.50%) analysts said in a note on Monday that they expect “the noise around CPO [co-packaged optics] to resurface over next few weeks” going into the GTC and the optical conference. Nvidia will likely discuss how the optical technology will be used in AI data centers, the analysts said.
Meanwhile, some quantum computing stocks climbed on Monday ahead of the GTC’s first “Quantum Day” that will be held on Thursday.
Quantum Computing (QUBT+13.61%) stock closed up by 13.12%, while D-Wave was up by 10.15% at the market close.
Executives from quantum companies, including D-Wave, are expected to join Huang to discuss “what businesses should expect from quantum computing in the coming decades — mapping the path toward useful quantum applications,” Nvidia said.
Shares of IonQ (IONQ+0.28%) and Rigetti Computing (RGTI-1.33%), both of which are also expected to join Huang at the GTC, were down by 0.28% and 0.53% respectively at the close.
