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Chinese OEMs Will Use Nvidia’s HGX Reference Architecture For Data Centers

Courtesy of Benzinga.

Chinese OEMs Will Use Nvidia's HGX Reference Architecture For Data Centers

Between cryptocurrency and gaming, autonomous vehicles and the Smart Home, NVIDIA Corporation (NASDAQ: NVDA)’s got its hand in a diverse range of trending projects.

Now, it’s increasing its exposure to computing hardware.

CEO Jensen Huang announced Monday that China’s top original equipment manufacturers ━ Huawei, Inspur and Lenovo ━ are supporting data centers with Nvidia’s HGX reference architecture, graphics processing unit technologies and Volta accelerated systems.

Alibaba Group Holding Ltd (NYSE: BABA) Cloud, Baidu Inc (ADR) (NASDAQ: BIDU) and Tencent Holdings are also upgrading their cloud infrastructures and data centers with a shift from Nvidia Pascal systems to NVIDIA Tesla V100 GPU accelerators.

What This Could Mean

The announcement may hearten analysts discouraged by last quarter’s misses in data center revenues and Nvidia’s reliance on cryptocurrency business, which Barclays considers undependable.

“This stock can’t afford to have a Data Center pause before … next year,” analysts wrote in August.

At the same time, it may ease the minds of minority skeptics like Andrew Left dissuaded by rising competition in data centers. Left considers Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) better positioned than Nvidia to capitalize on related trends.

What The Street Says

Analysts are largely entrenched in their assessments of Nvidia, with all their latest activity mere reiterations. None have recently changed their minds on the stock.

Consensus is largely positive, with the last three months seeing 17 Buys, seven Holds and three Sells.

At last check, shares of Nvidia were up 4.23 percent at $178.23.

Related Links:

AMD’s RX Vega Vs. Nvidia’s GTX1080: The Great Rivalry Heats Up

All The Nvidia Launches Thus Far This Year

Latest Ratings for NVDA

Date Firm Action From To
Sep 2017 Bank of America Maintains Buy
Aug 2017 Canaccord Genuity Maintains Buy
Aug 2017 Citigroup Maintains Buy

View More Analyst Ratings for NVDA


View the Latest Analyst Ratings

Posted-In: Andrew LeftLong Ideas News Short Sellers Analyst Ratings Movers Tech Trading Ideas Best of Benzinga


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