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NVIDIA Expects Significant Blackwell Revenue This Year, Stock Rises 7%

May 22, 2024, 09:32 PM

NVIDIA's CEO Jensen Huang announced that the company will see significant revenue from its new Blackwell AI chips this year. Blackwell products will begin shipping this quarter, ramp up in Q3, and enter data centers in Q4. The CFO noted that while supply for H100 has improved, there are still constraints on H200, and demand for both H200 and Blackwell is expected to exceed supply into 2025. Major customers for Blackwell include Amazon, Google, Meta, Microsoft, OpenAI, Oracle, Tesla, and XAI. Additionally, NVIDIA is already working on the next generation of chips following Blackwell, maintaining a one-year development cycle. The announcement led to a 7% increase in NVIDIA's stock price. The company also reported a 427% growth in data center revenue.