Nvidia was dropping early Tuesday. The chip maker’s rally has leveled off but demand still looks strong for the company’s chips that power artificial-intelligence systems.
Nvidia shares fell 2.5% to $881.19 in early trading. The stock closed flat at $903.63 on Monday.
Nvidia was the second-best performer in the S&P 500 in the first quarter…
Nvidia
was dropping early Tuesday. The chip maker’s rally has leveled off but demand still looks strong for the company’s chips that power artificial-intelligence systems.
Nvidia
shares fell 2.5% to $881.19 in early trading. The stock closed flat at $903.63 on Monday.
Nvidia was the second-best performer in the S&P 500 in the first quarter of the year but that looks to have triggered some profit-taking as the stock has retreated from recent highs of more than $950.
Demand for Nvidia’s current flagship H100 and H200 AI chips remains ahead of supply and likely will do so until the end of the year, said Oppenheimer analyst Rick Schafer in a research note Monday. Oppenheimer’s analysis suggests the lead time—the time from placing an order to receiving it—for the graphics-processing units is now less than 30 weeks, down from their peak of 40-50 weeks.
That suggests that there shouldn’t be any worries about a gap in orders before the release of Nvidia’s next-generation Blackwell chips. Oppenheimer expects Nvidia to ship around 4 million GPUs this year, compared with 400,000 for its chief rival
Advanced Micro Devices
.
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Nvidia’s stumble looks to be in line with its peers as U.S. bond yields reached multimonth highs on Tuesday. AMD stock was down 4.0% and
Intel
dropped 1.7% in early trading.
Nvidia shares have risen 82% this year through to Monday’s close. That compares with a 9.9% rise in…
..