shares dipped in premarket trading on Tuesday after having more than tripled in value in the past year, as the dominant AI chip supplier unveiled its latest flagship product that is expected to further cement its lead in the industry.
Shares of Wall Street’s third most-valuable firm were down about one per cent, with some analysts saying investors had already factored in the launch and were looking out for more details. “If the brand-new Blackwell chip didn’t trigger a fresh rally, it’s because the arrival of a new and a more powerful chip was already priced in,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.Shares of other chipmakers also fell. Super Micro Computer was down 1.5 per cent, while Advanced Micro Devices shed 1.7 per cent and Marvell Technology dropped 2.2 per cent.
Many analysts expect Nvidia’s market share to drop several percentage points this year, as new products from competitors are launched and the company’s largest customers make their own chips.The firm, which has cornered 80 per cent of the AI chip market, is expected to provide more details on pricing as well as the transition from H100 to B100 chips at its presentation for financial analysts at 11:30 a.m. ET on Tuesday.
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