The global top AI event has kicked off today. The market is watching closely to see if Nvidia can continue its impressive performance.

By admin Mar 18, 2024

Many investors are now focusing on the global top artificial intelligence (AI) event – Nvidia’s GTC Developer Conference, set to take place on Monday, the 18th. Nvidia is expected to unveil the Blackwell architecture and B100 chip at the conference, signaling a comprehensive hardware upgrade.

According to reports from “Caijing News,” Nvidia’s annual AI conference, GTC, will be held at the San Jose Convention Center in the United States. Nvidia CEO Jensen Huang’s keynote address is scheduled for Monday afternoon Pacific Time, which translates to early Tuesday morning at 4 am Taiwan time. Representatives from tech giants like OpenAI, Microsoft, Meta, and others are expected to attend.

In a research report, Zheshang Securities stated that Nvidia is likely to announce the Blackwell architecture and B100 chip at the conference, marking a full hardware upgrade. Nvidia’s robot series applications are also expected to see advancements. Additionally, Nvidia will unveil a series of generative AI applications.

GTC is considered one of Nvidia’s most important platforms for technical releases each year and is seen as an “AI barometer” in the industry. Nvidia describes GTC as a developer conference for the AI and “metaverse” era. Since Jensen Huang first emphasized machine learning at the 2014 GTC keynote speech, Nvidia has been at the forefront of the AI revolution.

Bank of America raised Nvidia’s price target to $1,100, stating that its valuation still looks very attractive, and GTC may continue to seize market opportunities.

However, some institutions hold a cautious view, believing that Nvidia’s stock price may be overvalued. Analyst Jordan Klein from Mizuho Securities stated that it’s important to see if GTC can bring enough surprises to the market to provide profitable opportunities for investors. If Nvidia falls short of market expectations, investor fatigue towards AI enthusiasm could trigger a new round of selling pressure.

Nvidia’s stock price climbed back above $900 on March 12, with a market value surge of about $153.5 billion in a single day, bringing its total market value back to $2.3 trillion, making it the third-largest company globally by market capitalization, after Microsoft and Apple.

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