NVIDIA executes a pivot to the Data Center Announcing the company’s 1Q23 financial results on May 24, 2023, Jensen Huang, the founder and CEO of NVIDIA, reported that the company is seeing “surging demand” for its latest generation of data center hardware products that are a key ingredient in building generative AI models, like OpenAI’s ChatGPT chatbot. On that very promising financial guidance from the NVIDIA founder, the company’s stock (NVDA) leaped from $305 to $356 in after-hours trading on Wednesday, up over 16%. When the New York stock exchange re-opened on Thursday, NVDA stock continued to soar upwards, to close at $380 for the day. To put that rise in perspective, back in September 2022, NVDA stock bottomed out at $112, so it’s up more than 300% in the intervening 8 months. In the wake of ChatGPT, which Microsoft has integrated into its Bing Search engine to great effect, other companies are scrambling to catch up, or at least not fall too far behind, what could poten...
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