Nvidia Corporation - NVDA STOCK NEWS

NVIDIA announced that top computer manufacturers, including Atos, Dell Technologies, and Lenovo, are adopting the new NVIDIA Grace superchips for advanced AI and HPC servers. These systems leverage the NVIDIA HGX platform, promising twice the memory bandwidth and improved energy efficiency over current data center CPUs. Early adopters like Los Alamos National Laboratory will utilize these systems to enhance research capabilities, with expected performance exceeding 10 exaflops in AI tasks.

NVIDIA has informed investors about an unsolicited mini-tender offer by Tutanota LLC to acquire up to 215,000 shares, less than 1% of its outstanding stock, at $210 per share. This offer is contingent on NVIDIA's stock closing above $210 prior to expiration, which is improbable, as it would result in shareholders receiving below-market rates. NVIDIA advises against tendering shares, citing delayed payments and several conditions, including financing by Tutanota. The SEC cautions about mini-tender offers that often undercut market prices.

NVIDIA reported record Q1 revenue of $8.29 billion, a 46% increase year-over-year, driven by strong performance in Data Center and Gaming. GAAP earnings per share (EPS) were $0.64, down 16% YOY, influenced by a $1.35 billion Arm acquisition termination charge. Non-GAAP EPS rose 49% to $1.36. NVIDIA anticipates Q2 revenue around $8.10 billion, impacted by about $500 million due to geopolitical tensions and COVID-19 lockdowns. The company initiated a $15 billion share repurchase program and highlighted significant advancements in AI and gaming technologies.

NVIDIA has announced a new class of data center systems powered by its Grace CPU Superchip and Grace Hopper Superchip, designed for diverse workloads including AI, cloud graphics, and gaming. Major Taiwanese manufacturers such as ASUS and GIGABYTE will begin releasing these systems in early 2023. The new architecture promises enhanced performance with up to 144 Arm V9 cores and data transfer speeds 15 times faster between the CPU and GPU. This initiative aims to meet the increasing demands of AI and high-performance computing, transforming data centers into AI factories.

NVIDIA will present at the BofA 2022 Securities Global Technology Conference on June 7 at 8 a.m. Pacific time. Founder and CEO Jensen Huang will participate in a keynote fireside chat. Interested parties can access live audio webcasts of NVIDIA's presentations at financial events through investor.nvidia.com, with replays available for 90 days post-event. NVIDIA's innovations in GPUs since 1999 have revolutionized gaming, AI, and high-performance computing, impacting numerous industries including transportation and healthcare.

NVIDIA will host its 2022 Annual Meeting of Stockholders online on June 2 at 11 a.m. PT. Stockholders can access the meeting via www.virtualshareholdermeeting.com/NVDA2022, using their control number from their notice or proxy card. Non-stockholders can attend as guests. Voting and questions can be submitted during the meeting. Details on the matters to be voted on are in the Proxy Statement filed on April 19, 2022, available at www.nvidia.com/proxy.

NVIDIA will hold a conference call on May 25, 2022, at 2 p.m. PT to discuss its financial results for Q1 FY 2023, ending April 30, 2022. The call will be webcast live, featuring prepared remarks followed by a Q&A session for financial analysts and institutional investors only. A CFO's written commentary on the results will be available on their investor relations site shortly after the results are announced at approximately 1:20 p.m. PT. The webcast will be recorded for later replay until the next quarterly call.

NVIDIA has launched new features for its NVIDIA Omniverse platform that enhance game development by enabling real-time collaboration and improved asset management. Key updates include Omniverse Audio2Face for facial animations, Omniverse Nucleus Cloud for simplified sharing, and Omniverse DeepSearch for efficient asset searching. The platform supports multi-GPU performance, allowing developers to create immersive, 3D environments more effectively. NVIDIA emphasizes the ability of Omniverse to unify teams and improve workflows, catering to the increasing complexity in game design.

Kroger and NVIDIA announced a strategic collaboration to enhance shopping experiences through AI applications. This partnership aims to build an advanced AI lab at Kroger's Cincinnati headquarters, focusing on freshness initiatives and improving logistics. Utilizing technologies like NVIDIA AI Enterprise and NVIDIA Omniverse™, the collaboration will create digital twin simulations for nearly 2,800 stores. This effort supports Kroger's commitment to provide fresh products and optimize efficiency, potentially revolutionizing the grocery shopping sector.