TECH - Nvidia CEO Jensen Huang Becomes Stock Kingmaker Through Name-Dropping In Presentations | Benzinga
NVIDIA Corp. (NASDAQ:NVDA) CEO Jensen Huang experienced a drop in his company’s stock after a highly anticipated presentation. However, the stocks of other companies mentioned during the event saw a significant rise.
What Happened: Despite unveiling a new processor design, Blackwell, Nvidia’s shares fell by almost 2% in post-market trading. However, Huang’s endorsements of other companies during the two-hour presentation in San Jose, California, led to a surge in their stock prices, reported Bloomberg.
Engineering software companies like Synopsys Inc (NASDAQ:SNPS), Cadence Design Systems Inc (NASDAQ:CDNS), and ANSYS Inc (NASDAQ:ANSS) experienced a rise of over 2% after Huang announced that they would be using the new Blackwell-based processors for AI enhancements in their products. Similarly, Dell Technologies Inc (NYSE:DELL) saw a 3.2% increase after Huang praised the company for its enterprise systems.
"Everybody who is building these chatbots and generative AI, when you're ready to run it, you're going to need an AI factory. Nobody is better at building end-to-end systems of very ...