Is NVDA Stock the Next Tesla? 7 Things to Know as Nvidia Makes Big Announcements

One of the best-performing mega-cap stocks this year, Nvidia (NASDAQ:NVDA) has shown no signs of slowing. This is a stock that’s currently up approximately 45% over the past month alone and has even been called “the new Tesla (NASDAQ:TSLA).” Today’s price action has been surprisingly calm for NVDA stock, considering some pretty impressive updates the company provided.

Nvdia (NVDA) office building with lime green logo on sign out front. Green grass and clear sky are visible..
Source: JHVEPhoto / Shutterstock.com

Given the rising demand for anything with a microprocessor, chip producers like Nvidia have seen impressive results. From a growth perspective, there’s a lot to like about the future of the sector. And Nvidia’s positioning as a higher-end chip producer is bullish, for those who believe technological innovation will continue to accelerate.

On this front, today, Nvidia CEO Jensen Huang unveiled his vision for where he sees the chip maker headed from here. At the company’s virtual GTC conference, Huang spoke at length about the future of the Omniverse, while also announcing some key product upgrades.

Let’s dive into what Nvidia investors may want to pay attention to right now.

NVDA Stock Continues Higher on Big Announcements

  • At the company’s GTC conference, Huang focused his attention on where the company is going. This may have been surprising to some investors who expected the CEO to celebrate how far the company has come.
  • The company’s CEO unveiled the Nvidia Omniverse Avatar and Nvidia Omniverse Replicator.
  • These Omniverse innovations will allow for 3D virtual simulations and can be integrated into existing AI (artificial intelligene) technologies.
  • Accordingly, use cases include climate change simulation, self-driving cars and robotics.
  • Huang also discussed the company’s advancements in accelerated computing, what’s behind modern AI.
  • Nvidia introduced the company’s Nvidia Quantum-2 networking platform, with super-computing functionality.
  • Additionally, the Nvidia CEO unveiled a three-pillar zero-trust framework to handle cybersecurity concerns.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2021/11/is-nvda-stock-the-new-tesla-7-things-to-know-as-nvidia-makes-big-announcements/.

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