What's Going On With Nvidia Stock Wednesday?

Nvidia Corp NVDA fueled speculations of its readiness to update its RTX 40 series cards in early 2024 after skipping the Super for the 30 series.

The artificial intelligence kingpin will likely showcase its RTX 4070 Super and RTX 4080 Super GPUs at the Consumer Electronics Show in January 2024, the Verge cites hardware leaker Kopite7kimi. 

Despite not being on the CES exhibitor list, Nvidia traditionally uses private conference rooms to hold press briefings and showcase new gaming technologies. 

The upcoming RTX 4080 Super will likely offer 20GB of VRAM and a 320-bit memory bus, while the RTX 4070 Super may feature a 256-bit memory bus.

Meanwhile, China's chip self-sufficiency efforts are drawing global industry leaders to the China International Import Expo, where 47 chip-related companies, including Qualcomm Inc QCOM, Micron Technology Inc MU, ASML Holding NV ASML, and Samsung Electronics Co SSNLF, are showcasing their latest technologies. Interestingly, Nvidia, subject to the U.S. trade embargo, did not set up a booth, continuing its absence from the event over the past five years.

Micron is making its debut at the expo despite a previous sales ban, signaling warming relations with Beijing, the First Post reports. 

The expo's integrated circuit section, aimed at boosting the local chip industry, has attracted attention from government officials, with Samsung displaying its advanced 3nm technology and ASML presenting its business timeline amidst U.S. sanctions. 

Advanced Micro Devices, Inc AMD is also participating, focusing on AI solutions and reinforcing its commitment to China's technological advancement.

Price Action: NVDA shares traded higher by 1.05% at $464.39 on the last check Wednesday.