Nvidia’s AI Surge Drives 8% Share Price Jump Amid Soaring Demand

Nvidia stock went up 8% after CEO Jensen Huang said that demand for its AI products was at an all-time high. Huang also talked about how important it is for big tech companies like Microsoft, Amazon, and Oracle to use Nvidia’s products to power their cloud and AI infrastructure.

On Wednesday, shares of Nvidia Corporation experienced an 8% increase following CEO Jensen Huang’s statement that the company is witnessing unprecedented demand for its products.

Huang said at the Goldman Sachs Communicopia + Technology Conference that Nvidia’s infrastructure is “completely sold out” right now because people all over the world want to improve their artificial intelligence (AI) skills.

Huang said that Nvidia is working with every AI company in the world right now, which shows how important the company is to the rapidly growing AI market.

A transcript from AlphaSense says that he stressed how much the industry relies on Nvidia by saying, “Everyone is counting on us.”

Major cloud service providers, such as Microsoft and Amazon, use Nvidia’s semiconductor technology a lot. Both of these tech giants have said they want to put more money into AI infrastructure, which shows how important Nvidia is to their AI strategies.

Huang also talked about Nvidia’s customers’ high return on investment. He said that for every dollar a cloud company spent on Nvidia infrastructure, it could get back five times that amount in rental income.

Oracle Unveils OCI Supercluster at CloudWorld

At Wednesday’s (ORCL) CloudWorld conference, the company showed off a new Oracle Cloud Infrastructure (OCI) Supercluster, which added to the importance of Nvidia’s GPUs.

Nvidia’s Blackwell platform will power this supercluster, which boasts over 100,000 GPUs. It will be available in the first half of 2025 and used to train and deploy AI models.

Oracle and Nvidia showed how Nvidia’s platform can make AI and data processing much better for business clients at the event. Nvidia’s stock was up 8% to $116.91, making up some of the ground it lost recently when its sales forecast fell short of what the market thought it would be.