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.
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