Should you trade on the NVIDIA GTC conference today? Five reasons to tune in

March 18^th to March 21^st are important days in the world of AI – and they’re important for markets too.

That’s because the Nvidia GTC 2024 conference opens today. It’s the biggest annual event of the Magnificent Seven company, traditionally Nvidia’s largest platform of the year for announcing and introducing the biggest new developments for both the company and AI as a whole.

And this year promises to be something special, apparently. According to Nvidia, the conference itself will “set the stage for another leap forward in AI.”

So, should you be going long or buying Nvidia shares today?

While no one else can tell you what is best for your individual portfolio or investing journey, here are five reasons why it might be a very good idea to watch the Nvidia GTC showcase closely.

1. New product launches

One thing Nvidia’s GTC is known for is being the launching platform for new Nvidia products – both expected ones and surprises.

Last year, for example, Nvidia announced the DGX Cloud service, the latest OVX computing system, a new chip named Grace Hopper, a whole new inference platform and new details and offerings for the Nvidia Omniverse platform… all at GTC.

Obviously, these kinds of big reveals can do a lot for a stock price if they delight – or disappoint – and can present unique ‘sell the news’ opportunities.

This year, Nvidia is expected to officially unveil its Nvidia Blackwell, the next new GPU chip architecture that the company will be introducing. Also likely to make a guest appearance is the Hopper-inspired, new H200 GPU. However, there’s likely to be plenty more where that came from.

2. Increased stock price speculation

Unsurprisingly, there has been a lot of speculating on Nvidia during the GTC conference in the past. This extra liquidity and volatility alone are reasons enough for some to get on the GTC bandwagon.

Let’s look at last year’s conference as an example. Before GTC started, Nvidia was trading from highs of 263.99 to lows of 256.68 on March 17^th. On March 20^th, when GTC started, this ramped up to bigger swings of a 260.24 high to a 251.30 low. By the end of GTC, the Nvidia stock price was up to $274.99.

This year may be even more intense, as 2024 is the first in-person GTC conference in five years, since before the pandemic in 2019.

3. Discover new up-and-coming AI names

It’s not for nothing that Nvidia’s GTC is the most anticipated AI event in the world – there are hundreds of insightful talks included in the conference.

One interesting presentation we know about, thanks to the GTC session catalogue online, is the ‘Nvidia NVentures Portfolios showcase’.

This session promises Nvidia will spotlight the up-and-coming, disruptive AI startups that the Nvidia NVentures arm is championing right now.

While most (if not all) of these companies are likely to not be public yet, they represent longer-term ideas for investors as to how gain exposure to more of tomorrow’s big AI companies.

4. Insider investment knowledge

A vital part of any investor’s arsenal – or trader, for that matter – is deep understanding of the companies you’ve invested in as businesses.

GTC also promises something on this front, where they will showcase exactly what AI ventures Nvidia is investing into as a company, in a talk entitled ‘Inside Nvidia’s growing AI portfolio’.

It promises to be interesting for individuals to see where an industry titan is putting its money in the AI space, and is sure to give new ideas for AI enthusiast investors.    

5. Bullishness that lasts

As Nvidia CEO and founder Jensen Huang himself says in this year’s teaser for the conference: “the purpose of GTC is to inspire the world on the art of the possible and accelerating computing.”

Based on previous GTC events, the mission seems to be accomplished. When GTC 2023 opened on March 20^th, the Nvidia share price was trading at around $251.30 per share. By the end of GTC, its share price had soared up to around $274 – and Nvidia opened above $270 per share for the rest of that week.

The Nvidia GTC conference will livestream certain session of the conference on YouTube. Visit the GTC website for more information.

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