Will Nvidia Stock Get Lift From AI Conference?
The last time Nvidia (NVDA) Chief Executive Jensen Huang gave a major speech his company's stock was trading in record high territory. Ahead of his next big speech on Tuesday, Nvidia stock is in a slump.
Year to date, through Friday's close, Nvidia stock is down 9.4%.
↑ X Is A Trump Recession On The Horizon? Here Are The Stocks And Sectors To Avoid.However, on the stock market today, Nvidia rose 5.3% to close at 121.67.
Huang is scheduled to give a keynote address at the company's semiannual GTC conference in San Jose, Calif. He plans to discuss what's next in agentic AI, robotics, accelerated computing and more, the company said.
Analysts expect Nvidia to unveil its GB300 AI chip at the show. That chip could start shipping in May. Huang also is likely to preview the company's next-generation graphics processing unit, or GPU, called Rubin. Rubin is due out in 2026 and will follow the current Blackwell series processors.
Nvidia is touting GTC as "the world's premier AI conference." GTC is short for GPU Technology Conference. It will run March 17-21 and feature over 1,000 sessions, 2,000 speakers and nearly 400 exhibitors, mostly focused on artificial intelligence. Nvidia expects 25,000 in-person attendees at the show, with 300,000 attending virtually.
This year's GTC will feature a day devoted to quantum computing. Quantum Day is taking place on Thursday.
Nvidia Stock Down From Record Heights
The last time Huang gave a keynote speech was at CES 2025 in Las Vegas on Jan. 6. Nvidia stock hit a record high of 153.13 intraday on Jan. 7.
But since then, Nvidia stock has declined on concerns about hyperscale cloud service providers rethinking their massive capex plans for AI data centers. China's DeepSeek and other AI systems have shown that artificial intelligence models can be operated with fewer chips and less cutting-edge chips.
Still, Wall Street analysts are hoping that the GTC show will provide a boost for Nvidia stock.
BofA Securities analyst Vivek Arya reiterated his buy rating on Nvidia stock with a price target of 200 on Tuesday. He expects important product updates from Nvidia at the show.
"Despite heavy ASIC (application-specific integrated circuit) competition, we expect Nvidia to maintain its leading 80-85% share" in AI processors, he said in a report. He noted Nvidia's broad product lineup covering computing and networking, its large software developer base, incumbency and other advantages.
Nvidia's GTC is "typically more a catalyst for the supply chain than Nvidia's stock," TD Cowen analyst Joshua Buchalter said in a client note Thursday. He rates Nvidia stock as buy with a price target of 175.
Meanwhile, Mizuho Securities analyst Vijay Rakesh on Thursday lowered his price target on Nvidia stock to 168 from 175 but kept his outperform rating. He cited "multiple compression in the AI space overall due to fears of slowing growth" as the reason for his price-target cut.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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