At the Computex event held in Taipei, Taiwan, chip giant Nvidia’s (NASDAQ:NVDA) CEO Jensen Huang unveiled several products and partnerships to capitalize on the artificial intelligence (AI) frenzy that has taken the tech sector by storm since the launch of ChatGPT. Huang launched the company’s large-memory AI supercomputer, NVIDIA DGX, which is powered by its GH200 Grace Hopper Superchips and the NVIDIA NVLink Switch System.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
This supercomputer will enable the development of next-generation models for generative AI language applications. Google Cloud (GOOGL) (GOOG), Meta Platforms (META), and Microsoft (MSFT) are among the first expected to gain access to the DGX GH200.
The company is also building its own AI supercomputer NVIDIA Helios, which will be coming online this year. The CEO also unveiled the NVIDIA MGX, a modular reference architecture for creating accelerated servers that the company believes can address the needs of data centers of every size.
Additionally, Huang launched NVIDIA Spectrum-X, an accelerated networking platform designed to enhance the performance and efficiency of Ethernet-based AI clouds. As a blueprint for NVIDIA Spectrum-X reference designs, the company is building Israel-1, a hyperscale generative AI supercomputer, to be deployed in its Israeli data center on Dell PowerEdge XE9680 servers.
Huang also spoke about Isaac AMR, a new platform to enable the next generation of autonomous mobile robot (AMR) fleets and meet the growing demands of several industries looking for operational efficiencies. He also highlighted NVIDIA Metropolis for Factories, which is helping companies to deploy and manage customized quality-control systems.
Overall, Huang spoke about several products that will address the challenges in AI and high-performance computing. “We’re now at the tipping point of a new computing era with accelerated computing and AI that’s been embraced by almost every computing and cloud company in the world,” said Huang.
New AI Partnerships
Aside from new products, the Taiwan event also included announcements of new partnerships. The company has teamed up with Taiwan chipmaker MediaTek (MDTKF) to develop automotive in-vehicle infotainment systems. The two companies intend to combine their technologies to transform automobiles with AI and accelerated computing.
Huang also announced a partnership with global advertising firm WPP (GB:WPP) to develop a content engine that leverages NVIDIA Omniverse platform and AI to enable WPP’s creative team produce high-quality commercial content faster and more efficiently.
Is Nvidia a Good Stock to Buy?
Nvidia’s aggressive moves to address the requirements of tech companies for AI applications are expected to boost its top line significantly. Last week, NVDA shares rallied after the company announced a mind-blowing Q2 revenue guidance of $11 billion (plus or minus 2%), which was nearly $4 billion more than market estimates, driven by the demand for its AI chips.
Following the company’s Q1 results, 23 analysts gave their reviews on Nvidia, of which 19 were bullish (including two rating upgrades from Hold to Buy).
Wall Street’s Strong Buy consensus rating on NVDA stock is based on 32 Buys and four Holds. The average price target of $434.76 implies about 12% upside. Shares have skyrocketed nearly 167% so far this year.
