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(Bloomberg) — Nvidia Corp. CEO Jensen Huang’s highly anticipated keynote speech failed to move the stock price needle. But it turned out to be a good thing for many of the company’s customers and partners.
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Nvidia shares fell nearly 2% in post-market trading after the executive announced a new processor design called Blackwell, but Huang touted other companies during a two-hour presentation Monday in San Jose, Calif. As a result, stock prices rose.
Engineering software makers Synopsys, Cadence Design Systems and Ansys rose more than 2% after Huang said the companies would use new Blackwell-based processors to further enhance artificial intelligence capabilities in their products. .
Dell Technologies Inc. also rose as much as 3.2% after Hwang named the server and computer maker.
“For all of you who are building these chatbots and generative AIs, when you’re ready to run them, you’re going to need an AI factory,” Huang said, speaking to CEO Michael Dell in the audience. I nodded. “No one does it better than Dell when it comes to building very large end-to-end systems for enterprises.”
Software makers such as SAP SE and ServiceNow also rose after Huang said they were using Nvidia’s platform to develop their services.
“The enterprise IT industry is a treasure trove,” he said. “They have a deep understanding of how work is done, they have all these great tools that have been created over the years, and they store a lot of data.”
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