LAS VEGAS — Nvidia on Monday announced new graphics processors and software for running generative artificial intelligence applications on personal computers. Nvidia stock rallied on the news.
The chipmaker introduced its GeForce RTX 40 Super Series desktop graphics processing unit in a webcast ahead of the CES 2024 tech trade show in Las Vegas. The conference officially opens Tuesday and runs through Friday.
Nvidia also announced RTX-accelerated AI software and tools for developers and consumers. The tools are designed to enhance PC experiences with generative AI. They include Nvidia TensorRT acceleration of the popular Stable Diffusion XL model for text-to-image workflows and Nvidia RTX Remix with generative AI texture enhancement tools.
Plus, Nvidia previewed Chat with RTX, software that allows AI enthusiasts to interact with their notes, documents and other content. Releasing later this month, Chat with RTX leverages Nvidia's large-language model technology.
Nvidia GPUs Out Later This Month
"Generative AI is the single most significant platform transition in computing history and will transform every industry, including gaming," Nvidia Chief Executive Jensen Huang said in a news release.
At CES 2024, Nvidia introduced three models of its GeForce RTX 40 Super Series graphics cards. The top-of-the-line GeForce RTX 4080 Super generates AI images 1.7-times faster and video 1.5-times faster than the GeForce RTX 3080 Ti GPU.
The GeForce RTX 4080 Super will be available starting Jan. 31 at $999. The other GPUs in the series will cost $599 and $799 and be available later this month.
The new graphics cards also provide a superior experience for video games, Nvidia said.
AMD, Intel Also Making AI PC News
Meanwhile, Nvidia is participating in the coming wave of AI PCs. The company said leading manufacturers including Acer, Asus, Dell, HP, Lenovo, MSI, Razer and Samsung will ship RTX AI laptops starting this month.
Nvidia said RTX GPU-enabled PCs offer a significant performance advantage over AI PCs running neural processing units.
Advanced Micro Devices and Intel also will be at CES 2024 touting their processors for AI PCs. Their products use neural processing units along with central and graphics processing units to run local AI applications.
Nvidia Stock Rated 'Top Pick'
Several Wall Street analysts recently listed Nvidia stock as among their top picks for 2024.
BofA Securities analyst Vivek Arya called Nvidia stock his "top sector pick" in a client note Thursday. He rates Nvidia stock as buy with a price target of 700.
On the stock market today, Nvidia stock rose 6.4% to close at 522.53.
Arya said Nvidia's dominance in generative AI could help Nvidia generate $100 billion in incremental free cash flow over the next two years. It could use that cash for buybacks, acquisitions and organic growth initiatives, he said.
Nvidia stock is on four IBD lists: Leaderboard, SwingTrader, IBD 50 and Tech Leaders. It also is one of the Magnificent Seven stocks.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
