Nvidia to Showcase AI Developments at Upcoming GTC Conference

Nvidia, the tech giant known for its graphics processing units, is attracting attention as it gears up for its highly anticipated GTC conference set for next week. At this event, Nvidia is expected to shed light on its latest advancements in the realm of artificial intelligence, with particular focus on the new B100 chip, as highlighted by analysts at Wedbush.

GTC: The AI Woodstock

Slated to begin on March 18, the GTC has earned the moniker 'AI Woodstock' due to its significant role in showcasing cutting-edge AI technologies. In preparation for the conference, Wedbush has reaffirmed its confidence in Nvidia, maintaining an Outperform rating and raising the company's price target from $850 to $1,000.

"The continuous stream of positive news is anticipated to serve as a short-term catalyst for Nvidia, coupled with persistent robust demand for AI products, as indicated by recent signs from Oracle pertaining to cloud demand and its capital expenditure plans for the upcoming quarter and fiscal year 2025," stated Wedbush analyst Matt Bryson.

Investor Expectations and Cooling Technology Interests

During the GTC, helmed by CEO Jensen Huang, Nvidia is expected to provide details about the B100's performance and pricing strategies. Investors and attendees, with a keen interest in the company's long-term roadmap, will be paying close attention to any updates regarding GPU and AI products foreseen beyond 2025.

Another topic of interest is the discussion on the requirements for liquid cooling within Nvidia's powerful computing architectures. Bryson believes that Nvidia's current leadership stance places it in a strong position to set industry standards for liquid cooling implementations, traditionally hindered by the absence of a uniform standard.

Competitive Landscape and Market Movements

In a twist, Nvidia's competitor, Cerebras Systems, is also hosting its own event next week. The startup aims to announce developments regarding its WS-3 AI chip and CS-3 supercomputer at Cerebras AI Day. This simultaneous scheduling suggests a spotlight on the competitive dynamics within the AI industry.

In the lead up to these events, Nvidia's stock saw a 3% dip in late morning trading on Thursday. Despite this, the company holds diverse evaluations with a HOLD rating from Seeking Alpha analysts and a STRONG BUY consensus from Wall Street, emphasizing varied perspectives on its investment potential.

Nvidia, AI, GTC