BUZZ-Nvidia gains ground with all eyes on GTC AI conference

Reuters
03-17
BUZZ-Nvidia gains ground with all eyes on GTC AI conference

** Shares of AI chip heavyweight Nvidia NVDA.O edge 0.9% higher to $122.74 in premarket trading

** Co's closely watched GTC AI Conference begins Monday; CEO Jensen Huang to deliver keynote speech on Tuesday

** Nvidia looks to be accelerating ramp for Blackwell 300 chip, UBS Global Research analysts say

** Ramp up in Q1 and initial second quarter indications in back-end testing indicate Blackwell units tripling and up 20% to 30% quarter over quarter, respectively - UBS

** However, upside growth in 2025's second half may be capped, says UBS

** BofA Global Research, in a March 11 note, says it expects "attractive albeit well-expected updates" on Blackwell Ultra at GTC

** Quantum computing stocks rise premarket: D-Wave Quantum up QBTS.N 4.8%, Quantum Computing QUBT.O up 15.8%, Rigetti Computing RGTI.O gains 2%, IONQ IONQ.N up 3%

** Nvidia's Huang to host panel on quantum computing with representatives from firms including D-Wave, IONQ, Rigetti

** NVDA shares trading at 26.32 times forward earnings, down from five year average of 41.51, as per LSEG data

** NVDA shares down 9.4% year-to-date on worries about future demand sparked by China's DeepSeek, U.S. tariffs and broader selloff in U.S. equities

(Reporting by Lisa Mattackal)

((LisaPauline.Mattackal@thomsonreuters.com;))

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