The shares of chipmaker Nvidia reached a record-high close on Monday in anticipation of its presentation at the CES trade show. However, following CEO Jensen Huang’s keynote at the event, the stock reversed course and stumbled by more than 6% for its biggest single-day slump in four months.
In his keynote, Huang delivered an update on several of Nvidia’s upcoming products. This included a series of new graphics processing units (GPUs), which use the same design as the company’s highly-touted Blackwell artificial intelligence chips. These GPUs will use AI to afford better performance in video games.
Additionally, Nvidia is preparing a supercomputer from its Project Digits. It will be equipped with a GB10 AI super chip and capable of running large AI models. This supercomputer, which is sized to fit on a desk, will cost $3,000 when it comes out in May.
Huang also discussed Nvidia’s additional plans for AI, robotics projects, and ventures into the autonomous vehicle sector.
Despite the upcoming lineup of Nvidia’s products causing buzz among consumers, the investors were not particularly impressed. After reaching an all-time high of $153.09 per share early on Tuesday, the company’s stock slumped by 6.22% and closed at $140.14 per share. The stock is now 3.10% up year-to-date.