Red-hot Nvidia dips after it unveils new AI chip

The logo of NVIDIA as seen at its corporate headquarters in Santa Clara, California, in May of 2022. Nvidia shares dipped in premarket trading on Tuesday after having more than tripled in value in the past year, as the dominant AI chip supplier unveiled its latest flagship product that is expected to further cement its lead in the industry.

"If the brand-new Blackwell chip didn't trigger a fresh rally, it's because the arrival of a new and a more powerful chip was already priced in," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. Along with the B200"Blackwell" chip, the company detailed a new set of software tools at its highly anticipated annual developer conference on Monday, to help developers sell artificial intelligence models more easily to firms that use Nvidia's technology.

Many analysts expect Nvidia's market share to drop several percentage points this year, as new products from competitors are launched and the company's largest customers make their own chips.The firm, which has cornered 80 per cent of the AI chip market, is expected to provide more details on pricing as well as the transition from H100 to B100 chips at its presentation for financial analysts at 11.30am ET on Tuesday.

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