Tech stocks today: Nvidia CEO calls AI 'a profit generator' in keynote speech at Computex Taipei
Tech stocks ended last week with gains as the Nasdaq 100 ( ^NDX ) crossed the 30,000 mark for the first time amid cautious optimism for an extended ceasefire agreement between the US and Iran. The tech sector faces its next series of tests this week as a raft of labor data offer
Tech stocks ended last week with gains as the Nasdaq 100 ( ^NDX ) crossed the 30,000 mark for the first time amid cautious optimism for an extended ceasefire agreement between the US and Iran.
The tech sector faces its next series of tests this week as a raft of labor data offers insight into how artificial intelligence is affecting the workforce, more chip and cybersecurity companies release their quarterly results , and the world’s chip giants descend on Taiwan for the annual Computex Taipei conference.
On June 1, Nvidia CEO Jensen Huang delivered his keynote address at the chip summit, where he stated that “AI is now a profit generator” and expanded upon the company’s products, particularly its Vera Rubin AI platform.
In the private markets, Anthropic ( ANTH.PVT ) announced last week that it had completed its Series H funding round, valuing the company at $965 billion, making the Claude Code creator more valuable than OpenAI ( OPAI.PVT ) and the most valuable AI startup in the world. Anthropic also released an update to its flagship Opus 4.8 model last Thursday.
Investors continue to assess what the looming mega IPOs from Anthropic, OpenAI, and SpaceX ( SPAX.PVT ) mean for the booming AI and tech trade.
Nvidia CEO Jensen Huang took the stage in Taipei on June 1 to kick of the Computex annual semiconductor trade show to highlight the company’s products, AI factories, and more.
“Everything has changed,” Huang said. “So the first idea is that useful AI has arrived. AI is now a profit generator. AI is now a GDP generator. Behind it is a whole new kind of computing pattern, not just a large language model, but an agent. Today, almost everything we're going to talk about is going to be based on this.”
Huang touted how Nvidia has evolved from being a GPU company to an AI infrastructure company and highlighted the next-generation Vera Rubin AI platform, calling the system “the most ambitious endeavor in the history of our company.”
