Nvidia Announces New Chips at CES 2024, the AI Stock Soars

Shares of Nvidia (NVDA) were up 5.4% today after the company made a series of major announcements at this year’s Consumer Electronics Show (CES), showcasing its continued dominance in the world of artificial intelligence (AI).

The AI stock began its ascent early this morning, even before the CES presentation, as investors anticipated new offerings from the chipmaking company. During their presentation, Nvidia unveiled an impressive lineup of new chips, including ones specifically designed for generative AI technologies, PCs, and gaming.

One of the most highly-anticipated releases was the debut of Nvidia’s GeForce RTX 40 Super series of desktop graphics cards. This lineup includes the high-end RTX 4080 Super, RTX 4070 Ti Super, and RTX 4070 Super. Nvidia is marketing the new cards as powerful tools for gaming, as well as for AI applications.

The RTX 4080 Super boasts 80 processing units with 10,240 CUDA cores, a serious upgrade from its predecessor, the RTX 4080, which only had 76 processing units and 9,984 CUDA cores. Additionally, the RTX 4080 Super has 4 more compute blocks and a faster effective memory speed of 23,000 Mbps (600 Mbps faster than the RTX 4080).

Nvidia claims that when paired with their AI-powered Deep Learning Super Sampling (DLSS), these performance gains become even more significant.

Nvidia is positioning these new chips as powerful options for AI PCs, which are becoming increasingly popular in both consumer and enterprise markets. These devices allow users to run AI applications directly on their own devices without relying on cloud services. This not only offers greater privacy and security for users but also opens up a whole new world of possibilities for AI development.

In addition to the hardware announcements, Nvidia also revealed several new partnerships with major companies in various industries. Amgen will be using Nvidia’s generative AI tools for drug discovery and data insights, while Getty Images will utilize Nvidia’s Picasso for a new image generation service. 

Moreover, with the rise of autonomous vehicles, Nvidia also partnered with Li Auto to integrate their AI capabilities, which could boost the AI stock even higher.