NVIDIA (NVDA) Shares Rally on Supercomputer Quantum 2 and New AI Initiatives

Shares of Nvidia (NASDAQ: NVDA) are up nearly 5% in pre-open Tuesday after the chip giant announced a series of new products and initiatives.

Nvidia launched Quantum 2, the next generation of its InfiniBand networking platform that targets demanding workloads.

“The requirements of today’s supercomputing centers and public clouds are converging,” said Gilad Shainer, senior vice president of Networking at NVIDIA. “They must provide the greatest performance possible for next-generation HPC, AI and data analytics challenges, while also securely isolating workloads and responding to varying demands of user traffic. This vision of the modern data center is now real with NVIDIA Quantum-2 InfiniBand.”

Moreover, Nvidia has launched new technology to expand its offerings for the rapidly-evolving auto industry. These include a new virtual driving assistant, as well as new systems for autonomous vehicles.

The chip company also announced several partnerships with self-driving sensor companies, including Luminar Technologies (NASDAQ: LAZR). These sensors will be incorporated into Nvidia’s systems and be compatible with the company’s chips and software.

Nvidia has also launched a set of tools designed for software developers to help them easily create a "metaverse". The starting price is $9,000 per year and will be sold by the company’s partners.

Shares are up 135% YTD.

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