NVIDIA CEO Jensen Huang's speech on Wednesday will be highly anticipated as investors eagerly await updates on the Blackwell chip
NVIDIA CEO Jensen Huang will speak at the Goldman Sachs conference, with investors looking forward to the latest developments on the Blackwell chip. The chip's release has been delayed due to engineering issues, leading to a 13% decline in the stock price since the financial report was released. Despite Huang's statement last month that revenue will come soon, investors are still eager for more information. Analysts believe that details on Blackwell's shipment readiness are key factors driving the stock price rebound
Nervous NVIDIA investors are eagerly awaiting the latest developments on the company's Blackwell chip development, hoping for a catalyst to stop the stock's decline.
The next-generation processor was launched six months ago but was delayed due to engineering issues. Although CEO Jensen Huang attempted to reassure the market last month by stating that revenue from the chip would arrive soon, some investors are still eager for more details. This, combined with overall macroeconomic uncertainty, has led to a 13% decline in the stock since the financial report was released.
Jensen Huang is scheduled to speak at a Goldman Sachs conference in San Francisco on Wednesday, with issues regarding Blackwell expected to be a focal point. He plans to speak with Goldman Sachs CEO David Solomon at 07:20 local time.
"No one likes delays," said Brian Mulberry, portfolio manager at Zacks Investment Management Inc. "It's one of those little episodes that investors are concerned about." With a lack of other positive factors driving up the stock price, coupled with general concerns in the tech industry, obstacles faced by Blackwell have intensified worries about the rapid rise of this AI darling.
While NVIDIA has performed well in managing expectations, "they may be able to communicate better, especially on the Blackwell issue," Mulberry added.
Analysts at Bank of America share a similar view, stating in a research report last week that details on Blackwell's shipment readiness are key fundamental catalysts to drive NVIDIA's stock price rebound
