Nvidia shares rise after CEO Jensen Huang says ‘demand for Blackwell is crazy’

• Nvidia shares rose as much as 5% on Thursday after CEO Jensen Huang noted strong demand for its Blackwell GPU.

• Huang confirmed that Blackwell’s chips are in full production despite previous redesign delays.

• Nvidia aims to improve GPU performance annually, impacting customer revenue and costs.

Shares of Nvidia rose as much as 5% on Thursday following CEO Jensen Huang’s comments about strong demand the company is experiencing for its next-generation Blackwell GPU chips.

The stock pared some gains and was up about 3% to trade at $122.47 at 10:30 a.m. ET. Shares of Nvidia tumbled, up 149% year to date, making it the second-best performing S&P 500 stock this year.

“Demand for Blackwell is crazy,” Huang said in an interview with CNBC after the market closed on Wednesday.

Huang addressed the state of production for the Blackwell chip, as reports of minor chip redesigns earlier this year led to slight delays in its release to customers.

“Blackwell is in full production, Blackwell is on schedule,” Huang said. “Everybody wants to have the most and everybody wants to be the first.”

Those comments align with comments from some of Nvidia’s biggest customers, including Oracle co-founder Larry Ellison.

Earlier this month, Ellison said he and Elon Musk “begged” for more GPU chips during a dinner with Huang.

Ellison said they told Huang, “Please take our money. We need you to take more money.”

In the CNBC interview on Wednesday, Huang also reiterated that the company is on track to deliver a faster and more efficient GPU chip to customers every year.

“If we can increase performance like we did with Hopper at Blackwell two to three times a year, we’re actually increasing our customers’ revenue or throughput on these infrastructures several times a year, or you could think of it as a decrease of costs every two or three years,” Huang said.

He added: “We are on track to do that and everything is on track.”

Huang pointed out in the interview that Nvidia has its footprints across various layers of the computing stack, from GPU chips to software to network components.

“This is a whole new way of doing computing, and we’re dedicated to building the whole stack and reinventing every layer of the technology stack so that … every company in the world can benefit from this revolutionary new technology that we call I do,” Huang said.

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