Nvidia Corp. shares rallied Tuesday (Jeff’s note: Market gods took care of that hubris:-) following the kickoff of the chip maker’s annual convention where the company announced several new partnerships including the placement of new data center chips with Amazon.com Inc.
Nvidia Chief Executive Jensen Huang used his keynote to highlight the Santa Clara, Calif.-based company’s ecosystem and hardware platforms, unlike in prior years when it highlighted a new chip architecture.
Citing the adoption of Amazon Web Services for the company’s T4 chips, Sur said he continues “to believe Nvidia is building a vast pipeline of inference design wins leveraging its T4 GPU and TensorFlow framework.”
With the slow adoption of Nvidia’s new Turing-based chipsets for gaming and inventory issues with older chips, Sur pointed the company’s break into cloud-based gaming with GeForce NOW as a way to drive adoption of the newer chips, which perform real-time ray tracing functions, or realistic light and shadow rending. Huang said late Monday that GeForce NOW has 300,000 beta users, and a waiting list of more than 1 million, with 15 datacenters of RTX-based servers and partnerships with Softbank and LG.
(Long NVDA and Softbank)
Thanks for the update. I noticed the bump in the stock price. I’ve kept a small position in Nvidea. I’ve told myself several times that I should sell it and put the money to a more productive use, I still might, but then I’ve still maintained a small position.
I look at Nvidea as a resting giant. By keeping a toe in the water I hope to recognize when it wakes up. I assume it will have a voracious appetite when it does.
NVDA moved passed $160 and $170 resistance, if it can close this week above $170 then the easy path is towards $200.
I look at Nvidea as a resting giant. By keeping a toe in the water I hope to recognize when it wakes up.
So it’s already up 44% from the $124 low it hit 3 months ago (yes, still down big from it’s high), do you not consider that waking up?
I’m not saying there’s great reason for this recent move company or results-wise yet, just that maybe the selloff was over done for what a great underlying company it is (and the great run the tech market has had in that time). And that it’s easy to miss the rebound for people that sell with the intention of getting back in before the next leg up.
Good point. The deal is though that NVDA is up less than other positions I hold. My portfolio is up an astonishing 49% for the year. So, it’s an issue of what to sell in order to buy more NVDA. So, if I miss the run on NVDA, it’s not like I’ve missed the only opportunity. I’m doingtty well exploiting others.
I agree, you’ve done fantastic, as have most who follow this boards’ picks (myself included, ).
Just wanted to point out (not just to you, either, but to any who may listen, mostly newer folks or folks that invest differently than most do here), that when people say they’re selling with the intention of getting back in at a lower price or before it goes back up, that it usually goes back up before those folks get back in. And I realize the leaders of this board don’t use that rationale, usually when they sell, they don’t look back, or if they do get back in, it’s not because they’re trying to get a cheaper price before it goes back up, it’s that new information has persuaded them to get back in.
What a time to be investing in the stocks most talked about on this board, when a 44% increase in 3 months (NVDA) is not as good as your total portfolio YTD (in not even 3 months!).
Congrats and thanks to all here.