"While GTC events have been held in Washington before, this is the first one to feature a keynote from the CEO. And some investing pros see the location as significant. GTC is sort of the AI Super Bowl, said Gerry Sparrow, who oversees about $120 million as chief investment officer of the Sparrow Growth Fund, which owns Nvidia shares. The fact that it's in DC could be foreshadowing that something good will be announced."
"Not too long ago, a catalyst was the last thing Nvidia shares needed, as AI fever captured the market and placed the chipmaker at the center of the boom. The stock has been among the best performers in the S&P 500 Index in every year since 2022, and this year it was up 32% through the end of July. But since then it has gone from a sprint to a jog, rising 7.7% while the rest of the chip industry races ahead,"
Nvidia's three-day GTC artificial intelligence conference opened in Washington with a CEO keynote scheduled for midday Tuesday. Investors are watching for announcements that could reignite Nvidia's stock after a summer slowdown. President Donald Trump said he intends to meet and congratulate Jensen Huang. Nvidia shares rose about 0.5% premarket. The stock had been a top S&P 500 performer since 2022 and was up 32% through July, but recently gained only 7.7% while the broader chip industry outpaced it. Intel and other rivals have surged, driven by major capital infusions and industry momentum.
Read at www.mercurynews.com
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