HomeMarket NewsThe Rise of Stock Kings: How Nvidia's CEO Jensen Huang's Name-Dropping Transforms...

The Rise of Stock Kings: How Nvidia’s CEO Jensen Huang’s Name-Dropping Transforms the Market

Actionable Trade Ideas

always free

Nvidia CEO Jensen Huang 7

Nvidia’s Presentation Impact

NVIDIA Corp. NVDA CEO Jensen Huang witnessed a slight dip in the company’s stock following a highly anticipated presentation. Nonetheless, his strategic mentions of other companies during the event resulted in a remarkable surge in their stock values.

Market Reaction

What Happened: Nvidia unveiled the new Blackwell processor design, leading to a 2% post-market drop in their shares. However, Huang’s accolades to other companies during the two-hour presentation in San Jose, California, caused significant spikes in their stocks, as reported by Bloomberg.

Companies in the engineering software sector, like Synopsys Inc SNPS, Cadence Design Systems Inc CDNS, and ANSYS Inc ANSS, saw their stocks rise over 2% after Huang announced their use of Blackwell-based processors for AI advancements. Similarly, Dell Technologies Inc DELL experienced a 3.2% increase due to Huang’s commendation of their enterprise systems.

“Everybody who is building these chatbots and generative AI, when you’re ready to run it, you’re going to need an AI factory. Nobody is better at building end-to-end systems of very large scale for the enterprise than Dell,” stated Huang, acknowledging CEO Michael Dell present at the event.

Broader Implications

In addition, companies such as SAP SAP and ServiceNow Inc NOW observed a surge in their stock prices post Huang’s mention of their utilization of Nvidia’s platform for service development.

Influential Power

Why It Matters: While Nvidia’s stock took a temporary hit, Huang’s influence on the market was profound. This occurrence adds to a series of significant events in the AI and tech industry, including Huang’s assertion of Nvidia’s technological supremacy in the AI domain and the anticipation surrounding Nvidia’s GTC 2024 event.

Despite the initial setback in stock value, Huang’s impact is unmistakable, with his speeches potentially shaping the trajectory of the AI market rally.

Moreover, this event fuels anticipation for Nvidia’s forthcoming developments and collaborations, as evidenced by the excitement voiced by Jim Cramer in the lead-up to the GTC 2024 event.

Image Via Shutterstock

Engineered by Benzinga Neuro, Edited by
Kaustubh Bagalkote

The GPT-4-based Benzinga Neuro content generation system leverages the vast Benzinga Ecosystem, incorporating native data, APIs, and more to deliver comprehensive and timely narratives for you.
Learn more.

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.