Where to buy an Nvidia or AMD graphics card – select Best Buy stores will have Nvidia RTX 30 cards in stock on August 26

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nvidia 30 series rtx
Nvidia’s RTX 30 series graphics cards launched in September 2020, but they’ve been nearly impossible to find in stores.

  • New Nvidia and AMD graphics cards have driven a PC gaming boom amid an international chip shortage.
  • RTX 30 and RX 6000 series cards are made at a variety of price points and performance levels.
  • Best Buy will sell RTX 30 cards on August 26 at select retail locations.

Table of Contents: Masthead Sticky

The computer graphics cards designed by Nvidia and AMD serve as the heart of a gaming PC, with cards at a wide range of prices offering increasing levels of image quality and rendering speed.

As home-built gaming computers become more common, demand for individually sold graphics cards has spiked dramatically, leaving most stores out of stock on a day-to-day basis. Just a few retailers, like Microcenter, Best Buy, and Newegg, have advertised restocks.

Best Buy is planning to offer Nvidia RTX 30 series graphics cards at specific stores on August 26. You’ll have to check this list to see which stores will have graphic cards in stock. Best Buy employees will start handing out tickets to customers in line starting at 7:30 a.m. local time.

To help you make the best graphics card purchase without overpaying, we’ve broken down the ins and outs of Nvidia’s RTX 30 and AMD’s RX 6000 series products. That said, it’s important to remember that stock remains hard to come by for all the models we’ve listed, so prices above MSRP are likely unavoidable for the time being.

The starting prices we’ve listed are for reference so you can decide whether any higher prices you may come across are worth the premium. We’ll update this page with more buying options and restock alerts as they’re announced.

Nvidia RTX 30 series graphics cards

NVIDIA GeForce RTX 3060 Ti 8GB GDDR6 PCI Express 4.0 Graphics Card
Nvidia’s RTX 3060ti graphics card.

Nvidia has described the demand for its latest series of RTX 30 graphics cards as “unprecedented.” Seven different cards have joined the RTX 30 line since September 2020, with recommended prices ranging from $329 to $1,500.

Priced at about $700, the RTX 3080 is an ideal choice for most people that will meet the needs of all but the most hardcore PC gaming enthusiasts. The $400 RTX 3060 Ti is a perfect pick for midrange and budget PCs, delivering excellent performance at 1080p, but struggling when pushed to 4K.

Nvidia graphics cards also have excellent software features and developer support that can benefit gamers who stream or record their gameplay for YouTube and Twitch. Nvidia’s exclusive DLSS software helps improve performance in certain games by using artificial intelligence to upscale visuals.

Nvidia graphics card

Starting price

Target resolution and refresh rate

RTX 3060

$329

1080p/60hz

RTX 3060 Ti

$399

1080p/144hz

RTX 3070

$499

1440p/60hz

RTX 3070 Ti

$599

1440p/144hz

RTX 3080

$699

1440p/144hz or 4K/60hz

RTX 3080 Ti

$1,199

4K/144hz

RTX 3090

$1,500

4K/144hz

AMD Radeon RX 6000 series graphics cards

AMD RX 6800XT graphics cad
The AMD RX 6800XT was released in November 2020.

AMD’s graphics cards aren’t quite as popular as Nvidia’s, but they boast plenty of power and are generally less expensive than their RTX counterparts. AMD cards get an additional performance boost when paired with AMD processors, which compete with Intel as the most popular gaming CPUs, and are generally more cost effective.

At $649 AMD Radeon 6800XT offers comparable performance to the RTX 3080 for $50 less, while the $579 AMD RX 6800 is a parallel to the $599 RTX 3070ti. The $999 Radeon RX 6900XT outperforms the $1,500 RTX 3090 in some games, but AMD’s cards struggle with some newer features, like ray traced lighting and AI-powered resolution scaling.

Certain newly released games with those features will likely run slightly better on Nvidia hardware until AMD develops its own solutions to boost performance. On the other hand, some popular titles like “Borderlands 3” run better on AMD devices, so the performance differences will vary depending on your choice of games.

AMD graphics card

Starting price

Target resolution and refresh rate

Radeon RX 6700XT

$479

1440p/60hz

Radeon RX 6800

$579

1440p/60hz

Radeon RX 6800XT

$649

1440p/144hz or 4K/60hz

Radeon RX 6900XT

$999

4K/60hz

Where to buy an Nvidia or AMD graphics card

Recommended retailers for an Nvidia or AMD graphics card include Microcenter, Best Buy, Newegg, and Amazon (Nvidia, AMD). Unfortunately, inventory remains sold out at most store, but restocks occur from time to time. AMD also sell units from its own online store, and Nvidia has a tool for checking stock at other retailers.

Best Buy will sell RTX 30 cards on August 26 at select retail locations. You can check to see if your local store will carry inventory at Best Buy’s website. Best Buy employees will hand out tickets to customers in line at 7:30 a.m. local time on August 26. Customers who receive a ticket will be able to purchase a card once the store opens.

If you’re on the hunt for an Nvidia or AMD graphics card online we recommend checking these landing pages on a regular basis:

Manufacturer EVGA is also offering a virtual waitlist via its website, so you can choose to be contacted by email when stock is available. However, the EVGA waitlist is months long, and the RTX 3080 and RTX 3060ti are in especially high demand.

How to shop for a graphics card

New graphics cards are incredibly hard to buy right now due to an international chip shortage that began in 2020. Resellers are charging far more than retail price on eBay and Amazon and even older cards are selling for above market rate. Given the current market situation it may be more affordable to shop for a pre-built gaming PC or laptop, rather than buying a graphics card separately and building your own.

Prices for the same cards can vary between manufacturers, with upgrades like extra cooling fans or RGB lighting increasing the cost. Graphics cards shipped were also impacted by a US tariff increase that arrived in early 2021, leading manufacturers to increase their prices by $70 to $300 more than what RTX 30 series and AMD 6000 series cards originally sold for in fall 2020.

What to know before buying a graphics card

The graphics card might be the most important part of building a gaming PC, as it will likely determine your computer’s peak performance. However, the more you spend on a graphics card, the more you’ll need to spend on other parts to make sure you’re not limiting its potential.

Even a $1,500 graphics card like the RTX 3090 can struggle if paired with an old processor or motherboard, so be sure to make sure the components in your PC are all modern and compatible before spending most of your budget on a graphics card.

Specifically, you should make sure your power supply can deliver requirements for your card of choice, and you should see if your motherboard supports PCI 4.0. A weak CPU can create a bottleneck that limits the overall speed of your gaming computer too, so don’t overspend on your graphics card if you can’t upgrade your CPU to a similar quality.

Read the original article on Business Insider

Nvidia surges 8% after record earnings results blow past analyst expectations

FILE PHOTO: A NVIDIA logo is shown at SIGGRAPH 2017 in Los Angeles, California, U.S. July 31, 2017.  REUTERS/Mike Blake
NVIDIA logo shown at SIGGRAPH 2017

  • Shares of Nvidia jumped as much as 8% on Thursday after the company reported strong second-quarter earnings.
  • Shares of the GPU manufacturer reversed early losses of 1% as investors digested the results.
  • Nvidia said it expects the ongoing semiconductor shortage to last well into 2022 and remains hopeful its proposed acquisition of Arm will be approved.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

Nvidia surged as much as 8% on Thursday after the graphics card manufacturer reported record second-quarter earnings results that surpassed analyst estimates.

The company saw surging demand in its gaming, data center, and professional visualizations business units, and said it is struggling to keep up with demand amid an ongoing semiconductor shortage. Nvidia CEO Jensen Huang expects the chip shortage to last well into 2022.

Here were the key numbers:

Revenue: $6.51 billion, versus estimates of $6.34 billion
Adjusted earnings per share: $1.04, versus estimates of $1.02
Third quarter outlook: $6.80 billion, versus estimates of $6.53 billion

On the crypto front, Nvidia said it expects a decline in the sale of its crypto mining processors, especially as ethereum transitions to EIP-3554, which will make the cryptocurrency essentially unmineable. The company also said it expects the ongoing chip shortage to last well into 2022.

Nvidia also said it continues to work through the regulatory process for completing its proposed $40 billion acquisition of Arm, which has not yet closed due to anti-trust concerns.

“Although some Arm licensees have expressed concerns or objected to the transaction, and discussions with regulators are taking longer than initially thought, we are confident in the deal and that regulators should recognize the benefits of the acquisition to Arm, its licensees, and the industry,” Nvidia CFO Colette Kress said.

The results impressed Wall Street analysts, with many seeing demand outstripping supply in the immediate future. While that’s often a great problem to have in business, it will limit near-term upside in the stock, analysts said.

The strong results helped add to Nvidia’s year-to-date gains of 51% as of Thursday afternoon. The stock has remained perched near record highs even after it completed its 4-for-1 stock split earlier this year.

Nvidia stock chart
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Where to buy an Nvidia or AMD graphics card, the most highly sought-after products in PC gaming right now

When you buy through our links, Insider may earn an affiliate commission. Learn more.

nvidia 30 series rtx
Nvidia’s RTX 30 series graphics cards launched in September 2020, but they’ve been nearly impossible to find in stores.

  • New Nvidia and AMD graphics cards have driven a PC gaming boom amid an international chip shortage.
  • RTX 30 and RX 6000 series cards are made at a variety of price points and performance levels.
  • Buying an RTX 30 or RX 6000 series card is incredibly difficult but it’s important not to overpay.

Table of Contents: Masthead Sticky

The computer graphics cards designed by Nvidia and AMD serve as the heart of a gaming PC, with cards at a wide range of prices offering increasing levels of image quality and rendering speed.

As home-built gaming computers become more common, demand for individually sold graphics cards has spiked dramatically, leaving most stores out of stock on a day-to-day basis. Just a few retailers, like Microcenter, Best Buy, and Newegg, have advertised restocks. Manufacturer EVGA offers direct sales of the latest graphics cards, but the constant demand has created a lengthy waitlist for potential buyers.

International tariffs and resellers on eBay and Amazon have also led to graphics cards being sold way above their suggested retail price. Prices can increase if the manufacturer makes changes to the base card design too, like adding special lighting or an extra cooling fan.

To help you make the best graphics card purchase without overpaying, we’ve broken down the ins and outs of Nvidia’s RTX 30 and AMD’s RX 6000 series products. That said, it’s important to remember that stock remains hard to come by for all the models we’ve listed, so prices above MSRP are likely unavoidable for the time being.

The starting prices we’ve listed are for reference so you can decide whether any higher prices you may come across are worth the premium. We’ll update this page with more buying options and restock alerts as they’re announced.

Nvidia RTX 30 series graphics cards

NVIDIA GeForce RTX 3060 Ti 8GB GDDR6 PCI Express 4.0 Graphics Card
Nvidia’s RTX 3060ti graphics card.

Nvidia has described the demand for its latest series of RTX 30 graphics cards as “unprecedented.” Seven different cards have joined the RTX 30 line since September 2020, with recommended prices ranging from $329 to $1,500.

Priced at about $700, the RTX 3080 is an ideal choice for most people that will meet the needs of all but the most hardcore PC gaming enthusiasts. The $400 RTX 3060 Ti is a perfect pick for midrange and budget PCs, delivering excellent performance at 1080p, but struggling when pushed to 4K.

Nvidia graphics cards also have excellent software features and developer support that can benefit gamers who stream or record their gameplay for YouTube and Twitch. Nvidia’s exclusive DLSS software helps improve performance in certain games by using artificial intelligence to upscale visuals.

Nvidia graphics card

Starting price

Target resolution and refresh rate

RTX 3060

$329

1080p/60hz

RTX 3060 Ti

$399

1080p/144hz

RTX 3070

$499

1440p/60hz

RTX 3070 Ti

$599

1440p/144hz

RTX 3080

$699

1440p/144hz or 4K/60hz

RTX 3080 Ti

$1,199

4K/144hz

RTX 3090

$1,500

4K/144hz

AMD Radeon RX 6000 series graphics cards

AMD RX 6800XT graphics cad
The AMD RX 6800XT was released in November 2020.

AMD’s graphics cards aren’t quite as popular as Nvidia’s, but they boast plenty of power and are generally less expensive than their RTX counterparts. AMD cards get an additional performance boost when paired with AMD processors, which compete with Intel as the most popular gaming CPUs, and are generally more cost effective.

At $649 AMD Radeon 6800XT offers comparable performance to the RTX 3080 for $50 less, while the $579 AMD RX 6800 is a parallel to the $599 RTX 3070ti. The $999 Radeon RX 6900XT outperforms the $1,500 RTX 3090 in some games, but AMD’s cards struggle with some newer features, like ray traced lighting and AI-powered resolution scaling.

Certain newly released games with those features will likely run slightly better on Nvidia hardware until AMD develops its own solutions to boost performance. On the other hand, some popular titles like “Borderlands 3” run better on AMD devices, so the performance differences will vary depending on your choice of games.

AMD graphics card

Starting price

Target resolution and refresh rate

Radeon RX 6700XT

$479

1440p/60hz

Radeon RX 6800

$579

1440p/60hz

Radeon RX 6800XT

$649

1440p/144hz or 4K/60hz

Radeon RX 6900XT

$999

4K/60hz

Where to buy an Nvidia or AMD graphics card

Recommended retailers for an Nvidia or AMD graphics card include Microcenter, Best Buy, Newegg, and Amazon (Nvidia, AMD). Unfortunately, inventory remains sold out at most store, but restocks occur from time to time. AMD also sell units from its own online store, and Nvidia has a tool for checking stock at other retailers.

If you’re on the hunt for an Nvidia or AMD graphics card we recommend checking these landing pages on a regular basis:

Manufacturer EVGA is also offering a virtual waitlist via its website, so you can choose to be contacted by email when stock is available. However, the EVGA waitlist is months long, and the RTX 3080 and RTX 3060ti are in especially high demand.

How to shop for a graphics card

New graphics cards are incredibly hard to buy right now due to an international chip shortage that began in 2020. Resellers are charging far more than retail price on eBay and Amazon and even older cards are selling for above market rate. Given the current market situation it may be more affordable to shop for a pre-built gaming PC or laptop, rather than buying a graphics card separately and building your own.

Prices for the same cards can vary between manufacturers, with upgrades like extra cooling fans or RGB lighting increasing the cost. Graphics cards shipped were also impacted by a US tariff increase that arrived in early 2021, leading manufacturers to increase their prices by $70 to $300 more than what RTX 30 series and AMD 6000 series cards originally sold for in fall 2020.

What to know before buying a graphics card

The graphics card might be the most important part of building a gaming PC, as it will likely determine your computer’s peak performance. However, the more you spend on a graphics card, the more you’ll need to spend on other parts to make sure you’re not limiting its potential.

Even a $1,500 graphics card like the RTX 3090 can struggle if paired with an old processor or motherboard, so be sure to make sure the components in your PC are all modern and compatible before spending most of your budget on a graphics card.

Specifically, you should make sure your power supply can deliver requirements for your card of choice, and you should see if your motherboard supports PCI 4.0. A weak CPU can create a bottleneck that limits the overall speed of your gaming computer too, so don’t overspend on your graphics card if you can’t upgrade your CPU to a similar quality.

Read the original article on Business Insider

Nancy Pelosi’s husband just invested millions in 4 mega-cap tech stocks, including Apple and Amazon

House Speaker Nancy Pelosi and Apple CEO Tim Cook.
House Speaker Nancy Pelosi (left) and Apple CEO Tim Cook.

  • The husband of House Speaker Nancy Pelosi purchased up to $11 million in mega-cap tech stocks in May and June.
  • A disclosure form shows Paul Pelosi exercised options to purchase $4.8 million worth of Alphabet.
  • Pelosi also bought option contracts in Apple, Amazon, and Alphabet, according to the disclosure.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

Paul Pelosi, investment manager and the husband of House Speaker Nancy Pelosi, purchased up to $11 million worth of mega-cap tech stocks in May and June, according to a financial disclosure form filed last week.

Pelosi’s biggest purchase was $4.8 million worth of Alphabet shares on June 18, according to the disclosure. Pelosi exercised 40 call options to buy 4,000 shares at a strike price of $1,200. With shares of Alphabet currently trading at $2,524, that stock position is now worth more than $10 million, representing an unrealized gain of more than $5 million.

On May 21, Pelosi purchased up to $1 million worth of call options in Amazon, along with up to $250,000 in call options on Apple. According to the disclosure form, Pelosi purchased 20 Amazon call options with a strike price of $3,000 and an expiration date of June 17, 2022, along with 50 Apple call options with a strike price of $100 and an expiration date of June 17, 2022.

The stock purchases come as Pelosi’s wife and the House of Representatives work on anti-trust legislation designed to better regulate the massive multi-trillion dollar tech companies. Apple CEO Tim Cook recently called House Speaker Pelosi to voice his opposition to the pending legislation.

Finally, Pelosi purchased up to $5 million worth of Nvidia call options on June 3. According to the disclosure form, Pelosi purchased 50 Nvidia call options with a strike price of $400 and an expiration date of June 17, 2022.

The long-dated in-the-money call options give Pelosi leverage to the potential upside moves in mega-cap tech stocks. The trades could be a bet on a continued regime of low interest rates, muted inflation, and slowing economic growth in a post-pandemic recovery, or on the business outlook of the companies themselves.

This isn’t the first time the investment decisions of Pelosi’s husband came into focus. Earlier this year, Paul Pelosi purchased up to $1 million of long-dated Tesla call options.

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Nvidia climbs to record high as CEO says he’s confident regulators will approve Arm acquisition

nvidia impressive ceos 2x1
Jensen Huang, CEO of Nvidia

  • Nvidia stock climbed as much as 4% on Wednesday to a record high of $676 per share.
  • The jump came after CEO Jensen Huang said he is confident UK regulators will approve the Arm acquisition by next year.
  • Nvidia’s takeover of the chip designer Arm is under review on “national security grounds” by UK regulators.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

Nvidia stock climbed to a record high of $676 per share on Wednesday after comments from CEO Jensen Huang about the acquisition of the chip designer Arm.

In a video call at the Computex conference in Taipei on Wednesday, Huang said he is confident that UK regulators will approve the Arm acquisition by next year.

“I expect this one to take 18 months so that’s later this year, early next year. I am confident about the transaction,” Huang said. “Our companies are complementary so we’ll bring, by nature, innovations that come as a result of companies that come together and offer complimentary things.”

Huang’s statements come after UK regulators announced in an April Public Interest Intervention Notice (PIIN) that they would be reviewing Nvidia’s takeover of Arm on “national security grounds.”

Digital minister Oliver Dowden released a statement announcing the review of Nvidia’s takeover:

“Following careful consideration of the proposed takeover of Arm, I have today issued an intervention notice on national security grounds. As a next step and to help me gather the relevant information, the U.K.’s independent competition authority will now prepare a report on the implications of the transaction, which will help inform any further decisions.”

An Nvidia spokesperson said of the move by regulators: “We do not believe that this transaction poses any material national security issues.”

“The regulators are looking for: Is this good for competition? Is this pro-competitive and brings innovation to the market? Does it give customers more choice, does it give customers more offerings and more choice? You could see that on the first principle that our companies are completely complementary,” Nvidia’s CEO Jensen Huang said on Wednesday at the Computex conference

Arm was acquired by the Japanese conglomerate SoftBank in 2016 for $31 billion.

Nvidia has said it will pay roughly $40 billion for the company in the proposed acquisition and has committed to paying SoftBank $2 billion whether the deal goes through or not.

Nvidia stock is up roughly 88% in the past year and 26% in 2021 amid record demand for the company’s GPU products from cryptocurrency miners and gamers.

Nvidia recently landed analyst support after a stellar earnings report as well. Piper Sandler, Wedbush, and a number of other Wall Street firms reiterated their “buy” ratings and increased their price targets.

Specifically, Piper Sandler maintained its “buy” rating and raised its price target $690 while Wedbush reiterated its “outperform” rating and raised its price target to $700. Evercore also maintained its “buy” rating and raised its price target to $750.

Nvidia posted a record-breaking quarter on May 26, with sales jumping 84% year-over-year to $5.66 billion.

Read the original article on Business Insider

The most transformative CEOs of 2021

Most impressive CEOs collage including Shantanu Narayen of Adobe, Albert Bourla of Pfizer, Mary Barra of GM, Jensen Huang of NVIDIA
From left: Shantanu Narayen, the CEO of Adobe; Albert Bourla, the CEO of Pfizer; Mary Barra, the CEO of GM; Jensen Huang, the CEO of Nvidia.

Leadership in 2021 is marked by transformation.

Of business models, of workforces, of organizations themselves. Insider’s inaugural list of the Most Transformative CEOs celebrates the four executives who are best meeting the needs of their many stakeholders. They do not merely protect the bottom line. They also devise strategies to respond to changing markets, tackle the climate crisis, and serve as stewards for the well-being of their employees – and the world.

Insider is proud to announce this first class:

Mary Barra, the CEO of General Motors

Albert Bourla, the CEO of Pfizer

Jensen Huang, the CEO of Nvidia

Shantanu Narayen, the CEO of Adobe

Insider arrived at this list by way of both quantitative and qualitative analysis. We considered the 100 CEOs of the largest publicly traded US companies by market capitalization on the S&P 500 who have been in their positions since at least January 2019. We ruled out executives who are on their way to stepping down, including Ken Frazier, the CEO of Merck.

We evaluated companies and CEOs across measures of recent financial performance, ratings on employee review sites Comparably and Glassdoor, typical employee compensation and the CEO-to-median-pay ratio, and the 2021 Just Capital ranking of companies’ commitment to social responsibility.

To choose the CEOs we wanted to feature, we considered the above metrics, as well as a qualitative sense of leaders guiding their firms through a historically difficult year. We believe these CEOs exemplify the traits and achievements needed to survive and thrive in that challenging environment.

Keep scrolling to learn more about what makes each CEO on Insider’s list deserving of the title of Most Transformative CEO.

MARY BARRA, the CEO of General Motors

Mary Barra, CEO of General Motors Company
Mary Barra, the CEO of General Motors.

Without doubt, the most successful CEO in GM’s recent four or five decades. Bob Lutz, a former GM vice chairman

READ FULL PROFILE


ALBERT BOURLA, the CEO of Pfizer

Albert Bourla, CEO of Pfizer
Albert Bourla, the CEO of Pfizer.

What they’ve done on the vaccine is remarkable. How quickly they’ve developed it, and now getting it out, especially in the US, is incredible. Vamil Divan, a senior biopharmaceuticals research analyst at Mizuho

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JENSEN HUANG, the CEO of Nvidia

Jensen Huang, CEO of Nvidia
Jensen Huang, the CEO of Nvidia.

One of these extremely rare individuals who has taken a zero-revenue company to $20 billion Rene Haas, Nvidia’s executive vice president

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SHANTANU NARAYEN, the CEO of Adobe

Shantanu Narayen, CEO of Adobe
Shantanu Narayen, the CEO of Adobe.

His ability to connect dots across different parts of the business, across different market trends, and then very succinctly distill the key decisions that need to be made is something I marvel at. Amit Ahuja, Adobe’s VP of Experience Cloud

READ FULL PROFILE

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Intel and AMD drop after Nvidia unveils plans to sell new CPU processors

Nvidia CEO Jensen Huang
  • Nvidia on Monday unveiled plans to create and sell its own CPU processors, making it a direct competitor with Intel and AMD.
  • Nvidia has historically focused on manufacturing GPU processors, also known as video cards.
  • Shares of Nvidia jumped as much as 4% after the news, while Intel and AMD both fell about 4%.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

Nvidia announced plans to manufacture its own CPU processor, transforming the company into a direct competitor of both Intel and AMD.

The news sent shares of Nvidia surging by as much as 4% on Tuesday, while both Intel and AMD fell by about 4%. Nvidia has historically manufactured premium GPU processors, also known as video cards, with its target customer being PC gamers.

But now, Nvidia is expanding its reach with an Arm-based data center CPU named Grace that delivers a big performance leap for systems that are training AI models, according to the announcement. Nvidia acquired Arm Holdings last year for $40 billion, though the deal has not yet closed.

“The result of more than 10,000 engineering years of work, the NVIDIA Grace CPU is designed to address the computing requirements for the world’s most advanced applications, including natural language processing, recommender systems and AI supercomputing,” Nvidia said.

Intel is the world’s largest maker of data center CPUs, but increased competition has spurred the company to make big multi-billion dollar investments into its manufacturing capabilities.

Grace is expected to be launched in 2023 and will be used in the build of new supercomputers from Swiss Supercomputing Center and the US Department of Energy’s Las Alamos National Laboratory.

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Nvidia slips as concerns over global chip shortage weigh on 4th-quarter earnings beat

NVIDIA computer graphic cards
  • Shares of Nvidia fell on Thursday as investor concerns about a global chip shortage weighed on an otherwise positive earnings report.
  • The stock fell 3% in premarket trades on Thursday.
  • The semiconductor industry has been struggling to meet global demand, thanks to an unexpected boom in online activity brought about by the pandemic.
  • Sign up here for our daily newsletter, 10 Things Before the Opening Bell

Shares of chip maker Nvidia fell 3% in premarket trading on on Thursday as investors’ concerns over the global chip shortage weighed on fiscal fourth-quarter earnings that beat expectations.

Nvidia CEO Jensen Huang during the Wednesday earnings call said he expects the shortage to continue this 2021. But Huang assured investors that the shortage would not affect some segments. 

The semiconductor industry in the past year has been struggling to meet global demand, thanks to an unexpected boom in online activity brought about by the pandemic. Nvidia, which outsources from Asia, Taiwan Semiconductor Manufacturing and Samsung Electronics, in particular, is stuck in the middle. Both Asian companies are having difficulty keeping pace with demand, and the bottleneck has trickled down to Nvidia. 

Nvidia sells semiconductor parts for gaming, artificial intelligence, data centers, and automobiles, among other sectors.

The company reported that revenue jumped 61% to $5 billion for the quarter ending January 31 and adjusted earnings of $3.10 per share, both considerably higher than Wall Street’s $4.82 billion and $2.81 per share estimates.

For the current fiscal first quarter, the chip maker set a forecast of $5.3 billion in revenue versus analysts’ expectations of $4.49 billion. 

For the coming year, the Santa Clara, California-based company remains bullish. Nvidia announced that it is working on graphic cards for mining cryptocurrencies like ethereum, even if the CEO said it will not be a huge part of its business.

Last year, Nvidia announced plans to buy Arm, Softbank’s chip division, for $40 billion. Arm is not a chip maker, but licenses chip designs, widely used in mobile phones, to customers such as Apple, Samsung, and Intel.

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Tesla asked to recall 158,000 Model S and Model X vehicles over a safety defect involving failing touchscreens

Tesla Model S
  • Tesla was asked by the National Highway Traffic Safety Administration to recall around 158,000 vehicles over faulty touchscreens, the agency said in a letter to the company Wednesday.
  • The NHTSA said the media control units on certain Tesla vehicles failed after their memory ran out, causing issues with the backup camera, defogging and defrosting settings, Autopilot system, and turn signals.
  • The issue impacted certain 2012-2018 Model S vehicles and 2016-2018 Model X vehicles, which used the NVIDIA flash memory devices that failed — after just five to six years on average.
  • Vice News first reported on the issue in October 2019, prompting the NHTSA to open an investigation in June 2020.
  • Visit Business Insider’s homepage for more stories.

The National Highway Transportation Safety Administration sent a letter to Tesla on Wednesday asking the company to recall around 158,000 vehicles over faulty touchscreen hardware.

The agency said it was “investigating a potential safety-related defect concerning incidents of media control unit (“MCU”) failures” that had resulted in problems with the backup camera, defogging and defrosting settings, Autopilot, and turn signals.

The issue, which stemmed from the MCUs failing after exceeding their storage capacity, impacted certain 2012-2018 Model S and 2016-2018 Tesla Model X vehicles.

The touchscreens on those models are powered by an NVIDIA processor which stores data in an attached “flash memory device.” But those devices have a finite amount of storage capacity, and according to the NHTSA’s investigation, once they filled up – which happened after just 5 to 6 years, on average – they shut down, causing the MCUs to fail and creating other safety issues.

The MCU failures resulted in the rearview/backup camera screen going “black,” an inability to control defogging and defrosting settings, and the loss of some Autopilot alerts and turn signal functionality, which the agency said could “increase the risk of crash.”

The NHTSA said its Office of Defects Investigation had “tentatively concluded that the failure of the media control unit (MCU) constitutes a defect related to motor vehicle safety.” While the letter doesn’t formally require Tesla to order a recall, the automaker must submit additional justification if it decides not to, and the NHTSA can still take further action if it isn’t satisfied with Tesla’s response.

Vice News originally reported on the issue in October 2019, citing a Tesla repair expert who said: “When this burns out, you wake up to a black screen [in the car’s center console.] There’s nothing there. No climate control. You can generally drive the car, but it won’t charge.”

The NHTSA said it opened its own investigation on June 22, 2020.

Read more: How Tesla bounced back from worst mistake Elon Musk ever made and became the world’s most valuable car company

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Nvidia pares Thursday gains after spiking on Citi analyst’s strong outlook

Semiconductor manufacturing.
Nvidia semiconductor manufacturing.

  • Nvidia stock trimmed gains Friday after a strong showing on the back of Citigroup’s positive note on Thursday.
  • Analyst Atif Malik’s EPS estimates are 2%-5% ahead of street estimates, which implies Nvidia could post a $2.94 EPS figure when the company reports earnings on February 11.
  • Nvidia now boasts 30 Buy ratings, 5 hold ratings, and just 4 Sell ratings from analysts.
  • Visit Business Insider’s homepage for more stories.

Shares of Nvidia trimmed gains Friday after surging some 4.3% Thursday on a strong outlook from Citigroup. The stock was down around 1% early Friday afternoon. 

Citigroup analyst Atif Malik said in a note that Nvidia’s stock has lagged its chip manufacturing peers and could offer upside potential ahead of next week’s virtual CES conference.

Nvidia was added to Citi’s “Catalyst Watch List” and the bank maintained its $600 price target.

Malik noted Nvidia has fallen over 15% from its early November high of over $580 per share, while the iShares semiconductor index SOXX has gained over 24% during the same period.

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Citi expects hyperscale-led data center demand recovery in the first half of 2021 and sustained PC gaming demand to drive an EPS boost.

Their analysts’ EPS estimates for Nvidia remain 2%-5% above street projections.

That’s worth noting, as Street analysts already expect Nvidia to grow its earnings by 48% in the January quarter to $2.80 per share. That’s on top of 55% year-over-year sales growth which will see Nvidia closing on the $5 billion revenue mark for the quarter.

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This news comes just weeks after Wells Fargo boosted their price target for the chip manufacturer to $625 per share from $600 per share.

As of Friday, Nvidia boasted 30 Buy ratings, 5 Hold ratings, and just 4 Sell ratings from analysts, per MarketBeat.

Shares of Nvidia are down over 1% Friday afternoon, trading at $529.07 per share as of 12:55pm E.T.

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