Nvidia Stock Rises After CEO Jensen Huang Brushes Aside Rumors About AI Giant Cutting Chip Orders: Retail's Bullish

Shares of Nvidia Corp. (NVDA) rose by more than 1% in pre-market trade on Thursday after CEO Jensen Huang brushed aside rumors that the company is cutting chip orders.

“As we move into Blackwell, we will use largely CoWoS-L. Of course, we're still manufacturing Hopper, and Hopper will use CowoS-S. We will also transition the CoWoS-S capacity to CoWos-L,” Huang said on the sidelines of an event by chip supplier Silicon Precision Industries in Taiwan, according to a report by Reuters.

He explained that this is not about reducing capacity but increasing it.

Nvidia announced the more powerful Blackwell chips earlier in March but hasn’t yet stopped manufacturing the previous-generation Hopper chips.

CoWoS refers to complex chip–on–wafer–on–substrate, a technology used by Nvidia’s primary partner, Taiwan Semiconductor Manufacturing Co. (TSM), to package chips for the AI giant.

CoWoS-S is a single-die design, while CoWoS-L is a dual-die design.

On Wednesday, TF International Securities analyst Ming-Chi Kuo said that Nvidia is slashing CoWoS-S orders, which could potentially impact orders from TSM.

Kuo said Nvidia is instead focusing on CoWoS-L, which has now been confirmed by Huang.

Retail sentiment on Stocktwits entered the ‘bullish’ (66/100) territory from ‘bearish’ (43/100) a day ago. Message volume remained in the ‘high’ zone, pointing to continued interest among retail investors.

Meanwhile, one user mocked bears after Nvidia stock price showed pre-market gains.

Another user reiterated their bullish outlook.

One user thinks Nvidia stock price could hit the $150 mark soon.

Nvidia’s share price has gained 7.8% over the past six months, while its one-year returns stand at 141.6%.

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