Wednesday, October 21, 2020

Key Aspects Pushing NVIDIA Corporation (NVDA) Stock Higher

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The semiconductor stocks are mostly trading in green and NVDA is one of the leading stocks among them.

Shares of the semiconductor giant have pushed quite notably in the recent trading session. Nvidia Corporation (NVDA) has updated its recent products during its ongoing GPU Technology Conference taking place this week from October 5 to 9.

The company during its current conference has also announced its partnership with GSK and new AI infrastructure and kits.

Nvidia has announced a three-year plan that includes both the DOCA programmable data-center “infrastructure on a chip” architecture and new BlueField-2 DPUs (data processing units). The company is working on various projects that involve AI for software collaborations or could support customers like IBM, Microsoft, and VMware.

Along with these agreements for providing its key product services to tech firms, Nvidia is focused on launching an AI platform ‘Maxine’ whose goal will be to improve the quality of video conferencing streaming via noise cancellation, face relighting, and super high resolution. A tech firm Avaya is already planning to integrate NVDA’s ‘Maxine’ into its video collaboration app. Maxine is being considered as a potential competitor to the video conferencing giant Zoom.

These are the key aspects thus far from the ongoing conference that has played a key role in driving NVDA’s share price in the market. The stock price was trading around $550 in the pre-market after its previous close at $545.70. Nvidia started the trading session on Wednesday at $553.20 and touched the highest price mark of $565.59, as of 10:18 A.M. EDT.

At the moment (2:51 P.M.) NVDA stock was trading at $557.05 up 2.08%, adding $11.35 to the shares price.
Nvidia’s announcements on Monday related to its AI projects and data centers have attracted investors’ sight. The stock is sharply higher compared to the market closure on Friday at $522.

Key Aspects

The company is focused on its AI technology and welcomes the “Age of AI” making it the firm’s core objective of the future. NVDA’s CEO, Jensen Huang mentioned:

“AI requires a whole reinvention of computing — full-stack rethinking — from chips, to systems, algorithms, tools, the ecosystem.”

He further added:

“Nvidia is a full-stack computing company. We love working on extremely hard computing problems that have great impact on the world. (And AI) is right in our wheelhouse.”

The CEO also highlighted that the firm’s strategy to make a $40 billion acquisition of chip designer Arm fits into NVDA’s future plans.

Nvidia’s newly introduced BlueField DPU data-center processors are programmable processors with Arm cores and acceleration engines for at-line-speed processing for storage, networking, and security. The DPU comes up with a high-speed interconnect technology from the firms’ acquisition of Mellanox Technologies in April.

The company is fully focused on its key partnership with VMware to work on the development of a data-center platform that supports GPU.

Moreover, Microsoft adopting NVDA’s AI on Azure that will power smart experiences on Microsoft Office which includes text prediction and smart grammar correction.
Another key collaboration with global health care firm GlaxoSmithKline (GSK). The company is set to provide its most powerful supercomputer that is being built in the U.K. for the healthcare researchers using AI to solve pressing medical challenges, including those driven by COVID-19.

GSK will be using Nvidia’s NVIDIA DGX SuperPOD™ system through the supercomputer “Cambridge-1”. This system will provide more than 400 petaflops of AI performance and 8 petaflops of Linpack performance, ranking it No. 29 among the top 500 supercomputers across the globe.

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