Semiconductors
Nvidia Q1 Earnings: “We will see a lot of Blackwell revenue this year.”
Nvidia impressed again with a beat this quarter and a raise next quarter. However, that wasn’t enough to move the stock price. It was during the earnings call that we saw the stronger price action when management discussed the Blackwell architecture. The first question on the call was a direct question on when Blackwell will be in production. There were other bullish comments about Blackwell ramping this year, such as “We will be shipping [Blackwell]. Well, we've been in production for a little bit of time. But our production shipments will start in Q2 and ramp in Q3, and customers should have data centers stood up in Q4.” This was strong language to use as it’s quite clear that Hopper has runway left given the beat/raises we saw in this quarter. To have the two architectures merge seamlessly in terms of timing in H2 is quite ideal.
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