Nvidia stock rose more than 3% after previewing its next-generation Rubin AI chip

Nvidia (NVDA) shares rose Monday after CEO Jensen Huang revealed details about the company’s next AI chip platform during his conference keynote. Computex Conference in Taipei, Taiwan on Sunday. The new platform, called Rubin, is the successor to Nvidia’s Blackwell platform, which it unveiled in March.

While the CEO provided few details about Rubin, he did mention that the platform will also include a new Arm-based CPU called Vera and will be brought to market in 2026. Huang also announced a more powerful version of its Blackwell platform called Blackwell Ultra Coming to the market. 2025, as well as an Ultra version of the Rubin platform for 2027.

Shares of the artificial intelligence chip company were up more than 3% as of Monday afternoon.

Nvidia is the leader in AI chips thanks to early investments in the technology that have put it well ahead of its competitors in terms of hardware capabilities and software features. This has helped make the company’s offerings invaluable not only to cloud providers like Amazon, Google and Microsoft, but also to companies ranging from healthcare to the automotive industry. This has helped fuel Nvidia’s impressive growth over the past year, as revenue jumped 262% year over year from $7.19 billion to $26 billion in the first quarter.

Nvidia has the third-largest market cap in the world among publicly traded companies at $2.79 trillion. Microsoft and Apple are worth $3.08 trillion and $2.98 trillion, respectively. Wall Street expects Nvidia to continue climbing higher than ever.

“We have a target of a $10 trillion market cap for Nvidia by 2030,” Beth Kindig, a lead technology analyst at I/O Fund, told Yahoo Finance after Nvidia’s announcements. “And I’ll be honest and tell you that I think that number is very low.”

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Nvidia President and CEO Jensen Huang delivers a speech during Computex 2024 in Taipei, Taiwan, Sunday, June 2, 2024. (AP Photo/Chiang Ying-ying)

Nvidia President and CEO Jensen Huang delivers a speech during Computex 2024 in Taipei, Taiwan, Sunday, June 2, 2024. (AP Photo/Chiang Ying-ying) (News agency)

However, Nvidia wasn’t the only chipmaker making news in Taiwan. AMD (AMD) also announced the MI325X AI accelerator, saying it will hit the market in the fourth quarter of this year, as well as a 5th generation EPYC server processor. The company also unveiled the MI350 series accelerator for 2025 and the MI400 series for 2026.

In addition to its server chips, AMD also launched the AI ​​300 chipset for AI laptops and the Ryzen 9000 series chipsets for laptops and desktops.

Intel (INTC) also announced its own lineup of chips at Computex, including Xeon 6 E-core processors for data centers. It said its new Gaudi 3 AI accelerator will cost about two-thirds the cost of competing accelerators. AI chips cost tens of thousands of dollars, so marketing Gaudi 3 as a less expensive option for companies looking for AI accelerators is a smart move on Intel’s part.

But the AMD and Intel announcements didn’t provide the same boost to their stocks as Nvidia did. Both AMD shares were down more than 3% as of Monday afternoon, while Intel shares were down more than 2%.

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Email Daniel Howley at [email protected]. Follow him on Twitter at @Daniel Holly.

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