What's Going On With Nvidia Stock Thursday?

Nvidia Corp NVDA continues to bask in the glory of the artificial intelligence frenzy, with CEO Jensen Huang hailing generative AI as the single most significant platform transition in computing history at Microsoft Corp's MSFT Ignite event.

Also Read: NVIDIA Launches AI Foundry Service On Microsoft Azure To Accelerate Custom AI Application Development

Huang cited generative AI as bigger than PCs, mobile and likely to beat the internet.

Thanks to the AI boom, Nvidia made $6 billion in pure profit earlier this year, the Verge reports.

Nvidia remains engaged in a host of initiatives, including an upgrade to its H200 GPU to incorporate high-bandwidth memory as its rivals try to launch their GPUs to rival H100.

The chip designer is preparing to distribute samples of its new chip models to China for clients affected by recent U.S. sanctions. 

The upcoming chips, H20, L20, and L2, will likely comply with U.S. export regulations. Nvidia commanded over 90% of China's $7 billion AI chip market.

Price Action: NVDA shares traded lower by 0.77% at $485.13 premarket Thursday.