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Graphics-chip maker Nvidia
(NVDA) announced a flurry of product news and customer wins at a presentation late Monday at its GPU Technology Conference in San Jose, Calif. The news sent Nvidia stock higher on Tuesday.XNvidia Chief Executive Jensen Huang touted the company's advancements in graphics processing units, or GPUs, for data centers, workstations and cloud gaming.Nvidia introduced its CUDA-X AI, an artificial intelligence accelerator for data sciences. All the major internet cloud service providers already have adopted the product, Huang said. Those customers include Amazon
.com's (AMZN) Amazon Web Services, Alphabet
's (GOOGL) Google Cloud Platform and Microsoft
's (MSFT) Azure.In addition, top computer and server makers are offering machines with Nvidia's new T4 GPUs, he said. Plus, Amazon Web Services will offer T4 processing to its customers in the coming weeks, Nvidia said.Nvidia Is Taking A Page From Intel's PlaybookIn a note to clients, Stifel analyst Kevin Cassidy said he was "impressed with the expanding range of GPUs with price/performance/power trade-offs to address markets from supercomputers to toy robots."He added that Nvidia is taking a page out of Intel's (INTC) strategy "that made the x86 CPU (central processing unit) the broadest-used CPU architecture."Nvidia wants its GPU architecture to be widely used across multiple end markets, Cassidy said.Cassidy rates Nvidia stock as hold with a price target of 150. Nvidia stock rose 4% to close at 175.71 on the stock market today.Nvidia Stock: Announcements 'Incremental' But PositiveRaymond James analyst Chris Caso said Nvidia's announcements Monday were "incremental" but positive for the company."We would consider these to be evolutionary, rather than game-changing announcements," Caso said in a report. He rates Nvidia stock as outperform with a price target of 180.At the presentation, Huang also addressed the company's planned acquisition of Mellanox Technologies (MLNX).High-speed interconnects from Mellanox complement Nvidia's processors for data centers and high-performance computing applications, Huang said.YOU MIGHT ALSO LIKE:IBD's ETF Market StrategyHow Can You Handle This Market? Start With These 3 StepsBest Growth Stocks To Buy And Watch: See Updates To IBD Stock ListsWant More IBD Videos? Subscribe To Our YouTube Channel!Get Free IBD Newsletters: Market Prep | Tech Report | How To InvestThe post Nvidia Stock Surges On Data Center Wins From Amazon, Google, Microsoft appeared first on Investor's Business Daily. Weiter zum vollständigen Artikel bei "Investors Business Daily"
Quelle: Investors Business Daily