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Market Insights

Stock of the week: Nvidia

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NVIDIA’s had a busy few months. Starting with the 4-for-1 stock split back in July last year, the acquisition of Arm failed due to antitrust concerns, and the general selloff in tech stocks dragged NVIDIA down by almost 40% from the (post-split) November high at $345.37…

Some analysts have attempted to quantify crypto miner demand for GPU’s as a key driver for NVIDIA’s future revenue growth, but it’s tricky to be precise (for obvious reasons).

Summit Insights Group analyst KinNgai Chan recently noted:

“A meaningful part of its (NVIDIA) gaming sales do include crypto-mining, which we think could be volatile. Our most recent industry check does indicate a significant weakness in crypto-mining demand,"

How meaningful those gaming sales are is anyone’s guess…

The Russia-Ukraine situation was another negative catalyst for all risk assets this week and NVIDIA was no exception. NVIDIA 1 day movement

Until Thursday. After gapping down to open just above the 208.50 YTD low, the turnaround in risk sentiment saw bargain hunters pile in. It’s pretty rare to see a candle that’s solid green with no wick! Opened at the lows and closed at the highs…

Look ahead to the NVIDIA GPU Technology Conference (GTC)

The conference will be held from March 21st to March 24th and there’s a lot to look out for.

  • DRIVE Hyperion 8: a computer architecture and sensor set for full self-driving systems.

This system was announced in 2021, but CEO Jen-Hsun Huang considers autonomous vehicles as a key expansion for the company. In a recent VentureBeat interview Huang commented:

“I think there will be thousands and thousands of applications of autonomous vehicles, and it's a sure thing,"

"This year is going to be the inflection year for us on autonomous driving. This will be a big year for us. And then next year, it'll be even bigger next year.

And in 2025, that's when we deploy our own software where we do revenue sharing with the car companies ... And so if the license was $10,000, we shared 50-50. If it’s a subscription base of $1,000 or $100 a month, we share 50-50.

“I think I’m pretty certain now that autonomous vehicles will be one of our largest businesses.”

Jaguar Land Rover have just entered a partnership with NVIDIA to develop their upcoming vehicles on the platform.

Alongside this, there will likely be a focus on the “omniverse”, NVIDIA’s simulation package for enterprise. They use this to simulate real environments such as logistics warehouses and factories for developers to collaborate on.

And back at the core of the business is the highly-anticipated RTX 4000 GPU, which is rumoured to be released this year.

It’s expected to offer a 150% performance increase, and reinforce NVIDIA’s position as a leading graphic card manufacturer. Whether the demand comes from crypto miners or gamers, that’s definitely a factor to watch for the stock price.

Not investment advice. Past performance does not guarantee or predict future performance.

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Important notice

This page/website is not directed to EU clients and falls outside the European regulatory framework and is not in the scope of (among others) the Markets in Financial Instruments Directive (MiFID) II.
By continuing you acknowledge to view the content provided by Skilling (Seychelles) Limited, which is authorised and regulated by Seychelles Financial Supervisory Authority, and that your decision was made independently and at your exclusive initiative and no solicitation or recommendation has been made by Skilling or any other entity within the group.

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