What Happened?
Shares of leading designer of graphics chips Nvidia (NASDAQ: NVDA) jumped 6.3% in the afternoon session after over 150 million shares traded hands (well above average) as CEO Jensen Huang's keynote at Computex in Taipei delivered two major announcements.
The first was RTX Spark, Nvidia's first system-on-chip for Windows laptops and compact desktops: a superchip combining a 20-core Arm-based CPU built with MediaTek, a Blackwell GPU with 6,144 CUDA cores, up to 128GB of unified memory via NVLink, and 1 petaflop of AI performance. Launch partners include Microsoft, Dell, HP, ASUS, Lenovo, and MSI, with over 30 laptops and 10 desktops planned for fall 2026, manufactured on TSMC's 3N process.
The second announcement was that Vera Rubin (Nvidia's next-generation data center platform combining the Vera CPU with the Rubin GPU) has entered full production, with early customers including OpenAI, Anthropic, xAI, Dell, Oracle, and CoreWeave. RTX Spark is Nvidia's formal entry into the PC processor market, the one large compute segment it has not previously owned. Intel fell approximately 5%, AMD dropped roughly 4%, and Qualcomm slid 8% in direct response. Arm Holdings surged 12% as the architecture underpinning RTX Spark, while Dell gained 9.5% and HP added 8% as launch partners.
Vera Rubin's production ramp carries a separate significance: it confirms Nvidia is already shipping its next platform at scale, delivering 3.5 times the AI training performance and 5 times the inference performance of Blackwell to the most consequential AI customers in the world.
The two announcements together mean Nvidia is competing for AI compute spend at both ends simultaneously — in hyperscale data centers through Vera Rubin and on individual devices through RTX Spark — expanding its addressable market in both directions in the same quarter.
The shares closed the day at $224.33, up 5.7% from the previous close.
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What Is The Market Telling Us
Nvidia’s shares are not very volatile and have only had 5 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
The previous big move we wrote about was 18 days ago when the stock gained 3.7% on the news that a Reuters report indicated the US government cleared approximately 10 Chinese technology companies to purchase Nvidia's H200 AI chips.
CEO Jensen Huang was also in Beijing as part of a US trade delegation, which traders read as a signal that the commercial relationship between Nvidia and Chinese buyers may be reopening. Adding to the optimism, several major Wall Street banks raised their price targets on the stock ahead of Nvidia's scheduled earnings report on May 20. Bank of America lifted its target to $320, Wells Fargo to $315, and UBS to $275, reflecting growing consensus that the AI infrastructure spending cycle driving demand for Nvidia's chips showed no signs of slowing.
Nvidia is up 18.8% since the beginning of the year, and at $224.28 per share, it is trading close to its 52-week high of $235.74 from May 2026. Investors who bought $1,000 worth of Nvidia’s shares 5 years ago would now be looking at an investment worth $13,789.
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