Nvidia Stock Edges Down Premarket Ahead Of Jensen Huang’s GTC Washington Keynote

• Nvidia CEO Jensen Huang will deliver a keynote at the GTC Washington conference today.
• Investors are eyeing updates on Nvidia’s Blackwell architecture and AI partnerships.
• Chipmakers are contending with rising competition in the generative AI space, even as trade tensions between the US and China remain an overhang on the U.S. companies.

Nvidia (NVDA) shares will be in focus on Tuesday as investors await CEO Jensen Huang’s much-anticipated keynote address at the GTC Washington conference later today. 

Huang is scheduled to deliver the keynote on October 28 at 12 p.m. ET. In premarket action, Nvidia stock was down 0.33% after gaining about 5% in the last five sessions. Meanwhile, the Nasdaq 100 futures held steady. 

The event, positioned as one of its significant platforms for showcasing artificial intelligence (AI) and accelerated computing innovations, could set the tone for the semiconductor sector ahead of the company’s next earnings report.

Keynote Address: What To Expect?

Huang’s keynote is likely to focus on the developments in Nvidia’s Blackwell architecture and new partnerships across cloud computing and automotive AI. The street is also watching for any updates on Nvidia’s expanding software ecosystem and how the company plans to scale its chip production. According to a UBS analyst, the company is expected to throw light on developments in data processing and artificial intelligence, Investing.com reported.

Rising Competition In Generative AI Market

On Monday, Qualcomm (QCOM) launched its new AI accelerator chips, entering the generative AI market to compete with Nvidia and Advanced Micro Devices (AMD). 

Nvidia is currently a market leader, with its GPUs accounting for over 90% of the AI accelerator sector. Its chips have been instrumental in developing and training OpenAI’s GPT models, which are the foundation of ChatGPT.

Huang’s keynote address comes at a time when the trade dynamics between the US and China weigh on chipmakers. US President Donald Trump and Chinese President Xi Jinping are scheduled to meet on Thursday in South Korea during the Asia-Pacific Economic Cooperation summit, where they are likely to finalize a preliminary agreement, announced Sunday by U.S. and Chinese negotiators.

What Is Retail Thinking?

Data on Stocktwits showed that retail sentiment is ‘bullish’ on the counter. It was ‘neutral’ last week.

Nvidia shares have surged nearly 40% year-to-date (YTD). 

Read Also: OpenAI To Offer ChatGPT Go For Free In India For A Year

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