Nvidia: share up after GTC conference
(CercleFinance.com) - Nvidia's share price is up on Tuesday in New York, as the US graphics card manufacturer kicked off its GTC conference yesterday.
The week-long event began with a much-anticipated keynote from Jensen Huang, the Santa Clara-based company's CEO and founder, marked by a string of presentations in accelerated computing, healthcare services, smart networking and video game development.
The most important announcement, however, is the official announcement of the launch, during 2023, of a new central processor called "Grace" developed from the group's expertise in artificial intelligence and intended for the supercomputer segment.
Nvidia's stock rose by 2.3% following the conference, a rise that seems justified in view of the optimism displayed by the Californian group.
Indeed, yesterday Nvidia declared that its sales in the current quarter exceed the forecasts it provided in February.
However, after a YTD gain of 16% and 125% over a year, the stock is not really cheap anymore, analysts say.
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