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SAN JOSE, Calif. — As Nvidia ( NVDA ) CEO Jen-Hsun Huang stood gazing at the Martian surface — a virtual reality simulation, of course — he talked about a future for the company that investors should look forward to. Or so he says. At the company’s annual GPU Technology Conference, which started here Tuesday, Huang in the opening keynote address told attendees that Nvidia’s focus will be even more centered around its core GPU (graphics processing unit) technology. GPUs provide graphics on computers, in video games and in various other applications. Nvidia competes mostly with Advanced Micro Devices ( AMD ) in this field, but No. 1 chipmaker Intel ( INTC ) is among other rivals. Huang said the company’s key markets will be virtual reality, autonomous cars and artificial intelligence, including chips for drones and deep learning. “Deep learning is no longer just an app, not just a field,” Huang said.”We think this is so important, we think this is going to utterly change computing. We think it’s a big deal.” He described such applications as algorithms plus massive amounts of data and computing power. Nvidia stock was up a fraction, near 36, in afternoon trading on the stock market today . The company has the highest possible IBD Composite Rating of 99, meaning it’s performing among the top 1% of all stocks in such metrics as sales and earnings growth, and stock performance. Nvidia stock broke out of a cup-with-handle base at 33.16 on March 16 and is now up 8.5%, so it’s a bit extended. Scalper1 News
Scalper1 News