Zinger Key Points
- Nvidia launched open-source AI models, boosting competition with OpenAI and Google in the AI space.
- Nvidia's new Unreal Engine 5 plugins enable AI-powered MetaHuman characters, expanding its role in AI-driven gaming and animation.
Nvidia Corp NVDA recently made significant product launches amid a volatile run as the Street factors in the company’s customer concentration and delays in product releases like its Blackwell GPUs.
The chip designer launched an open-source artificial intelligence model, intensifying rivalry with Microsoft Corp MSFT backed ChatGPT parent OpenAI and Alphabet Inc GOOG GOOGL Google, Venture Beat reports.
Nvidia’s new NVLM 1.0 family of large multimodal language models also enhances text-only capabilities in addition to vision and language tasks.
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Nvidia also launched its new Unreal Engine 5 on-device plugins for Nvidia Ace at Unreal Fest Seattle 2024, helping build and deploy AI-powered MetaHuman characters on Windows PCs, Venture Beat reports.
Developers can now access a new Audio2Face-3D plugin for AI-powered facial animations in Autodesk, Inc ADSK
Maya.
Nvidia stock lost over 4% in the last five days since China retaliated against U.S. artificial intelligence technology sanctions by urging its companies to reach out to domestic chipmakers instead of Nvidia. Huawei Technologies has started tapping Nvidia’s Chinese hyperscalar customers by offering them Ascend 910C processor samples.
Nvidia stock has risen over 161% in the last 12 months as US hyperscalars continue to drive up demand for its AI chips.
Investors can gain exposure to Nvidia through ProShares Ultra Semiconductors USD and Invesco PHLX Semiconductor ETF SOXQ.
Price Action: NVDA stock is down 0.62% at $116.27 premarket at last check Wednesday.
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