Nvidia Stock Falls 5%, Rebounds Over 1% Ahead of Next Week's AI Conference

# Nvidia Stock Rebounds Amid Recession Worries and Oracle's Earnings Report San Francisco (Yonhap News) – Kim Tae-jong, Correspondent – Nvidia, the AI powerhouse, saw its stock rebound on October 11 (local time), amid ongoing concerns about a U.S. economic recession. At 1:02 p.m. Eastern Time (10:02 a.m. Pacific Time), Nvidia's shares were trading at $108.36, up 1.29% from the previous day. Despite opening lower due to the previous day's decline, the stock quickly reversed course, surpassing $110 at one point during the session. The surge in Nvidia's stock was the second highest among seven major tech stocks, following a 2.23% increase in Tesla, which had plummeted 15% the previous day. Meanwhile, market leaders Apple and Alphabet (Google) were down by over 3% and 1% respectively, and Microsoft and Amazon hovered around their previous closing prices. Nvidia's stock gain is attributed to bargain hunting following the prior day's sharp decline and positively influenced by the earnings report from Oracle, a U.S. software firm, announced the previous day. Oracle's revenue for the past quarter increased by 6% year-over-year, with its core cloud services revenue rising by 10%. The increase in cloud revenue is believed to be driven by growing demand for computing power to support AI projects. Oracle Chairman Larry Ellison stated that the company plans to double its data center capacity this year to meet record-high customer demand, highlighting an optimistic outlook for the cloud services market. This announcement proved to be favorable for Nvidia, which commands approximately 90% of the market for advanced AI chips installed in data centers supporting cloud services. Additionally, Nvidia is set to host its AI conference, GTC 2025, from November 17 to 21 in Silicon Valley, drawing significant attention. CEO Jensen Huang will deliver a keynote address on October 18, focusing on world-changing AI and accelerated computing technologies. Huang had introduced the latest AI chip, Blackwell, at last year's GTC. This year, he is expected to unveil detailed specifications of the next-generation AI chip, Rubin, along with an enhanced version of the Blackwell Ultra, first introduced at Computex 2024 in June. On November 19, CEO Huang will hold a press conference for journalists worldwide and will host the inaugural "Quantum Day" on November 20 to discuss future trends in quantum computing technologies. His remarks earlier this year, suggesting that practical application of quantum computers in everyday life could take 20 years, had caused related company stocks to plummet by over 40% in a single day. taejong75@yna.co.kr