REFILE-LIVE MARKETS-Nothing new here as Nvidia reiterates AI roadmap

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NOTHING NEW HERE AS NVIDIA REITERATES AI ROADMAP

"No major surprises" seemed to be Wall Street's consensus after Nvidia's much awaited annual software developer conference failed to excite investors on Tuesday as they awaited clues on pay-back for their hefty AI-investments.

With Nvidia's NVDA.O CEO Jensen Huang's sticking to announcements around widely expected Blackwell Ultra (GB300)transition, and the Vera Rubin platform launch, disappointed investors, sending the stock lower on Tuesday.

"We think Nvidia did not give enough clarity over near-term Blackwell transition given ongoing market concerns over supply chain ramp as well as sustainability over CSP capex to drive AI GPU demand in FY26," analysts at HSBC said.

While the AI-bellwether's stock was up close to 1% on Wednesday, it had closed down 3.4% on Tuesday, helping to push the Philadephia chip index .SOX down 1.6%.

Benchmark analysts said "Although Jensen's Keynote may not have been the savior of the company's declining stock price that many had hoped for, we question what more the company could have said, with most of the disappointment likely stemming from the company's reiteration of its previously well-discussed roadmap."

Huang's new chip announcement comes as Nvidia works to overcome investor doubts that AI companies may be spending too much on its top-shelf AI processors following the emergence of China's lower-cost DeepSeek, which has weighed on Nvidia shares this year.

But not all analysts were disappointed.

"We think Nvidia continues to maintain a significant lead over the competition in terms of performance, and today's keynote makes us more confident that competition will continue to remain in the rearview," said Morgan Stanley analysts led by Joseph Moore.

Nvidia CEO Jensen Huang and finance chief Colette Kress will address financial analysts later Wednesday during a Q&A session.

(Kanchana Chakravarty)

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