3 stocks feeling the rush from the Nvidia bump

Nvidia CEO Jensen Huang announced new partnerships with Cadence Design Systems, Ansys, Synopsis, and Dell during his keynote address at the company’s GPU Tech Conference. This announcement led to a surge in the stocks of these companies, with Cadence's shares up 3.6% and Dell's shares up 1.5%. However, Ansys and Synopsis saw a drop in their shares. Huang also hinted at a potential collaboration with Samsung, which led to a 5% increase in Samsung's shares.

Samsung is reportedly in the process of qualifying its premium memory chip for Nvidia chips. This news follows reports that Samsung is looking to adopt the same chipmaking technology as its competitor SK Hynix, which has started mass producing high-bandwidth memory chips (HBM) that are set to ship to Nvidia this month.

Key takeaways

Nvidia CEO Jensen Huang announced new partnerships with Cadence Design Systems, Ansys, Synopsis, and Dell during his keynote address at the company’s GPU Tech Conference.
Following the announcement, Cadence’s shares were up 3.6% and Dell’s shares were up 1.5% in afternoon trading Tuesday.
Huang also hinted at a potential partnership with Samsung, causing Samsung's shares to climb over 5%.
Samsung is reportedly looking to adopt the same chipmaking technology as its competitor SK Hynix, which has started mass producing high-bandwidth memory chips (HBM) slated to ship to Nvidia this month.

3 stocks feeling the rush from the Nvidia bump

Key takeaways

Discussion (0)