At the Consumer Electronics Show in Las Vegas, Nvidia (NVDA, Financial) had a tumultuous week with shares momentarily reaching an all-time high on Tuesday before declining over 6% at $140.14, its worst single-day drop since September 3.
After CEO Jensen Huang delivered a keynote speech stressing Nvidia's developments in artificial intelligence humanoid robots, gaming GPUs, and a new alliance with Toyota, the stock first surged. From technologies like the Cosmos platform, meant to improve the intelligence of AI-powered robotics and vehicles, Huang detailed a "multitrillion-dollar" possibility.
Analysts stayed wary even with the great expectations reflecting doubt about the near-term impact of Nvidia's ambitious efforts, Stifel characterized the announcements as "significant but long-tailed". Adding to the volatility, Huang's comments on Wednesday on the practical value of quantum computing two decades away resulted in a dramatic drop in shares of quantum computing stocks.
