Nvidia falls even as it unveils new high-end RTX, GeForce graphics cards at GTC event

Semiconductor manufacturer Nvidia announces quarterly profits

Justin Sullivan

Nvidia (NASDAQ: NVDA) shares fell Tuesday even as the semiconductor giant unveiled several new products at its GTC conference, including a new high-end RTX GPU and GeForce GPUs.

Led by Jensen Huang, Nvidia (NVDA) showed its new RTX 4090 GPU rumored to cost $1,599. It will be available on October 12th.

In addition, Nvidia (NVDA) has also unveiled its new GeForce GPUs. The new chips will retail for $899 and $1,199 respectively and will be available in November.

Nvidia (NVDA) also announced that its new RTX 6000 workstation GPU will be available in December.

Based in Santa Clara, California, Nvidia (NVDA) announced that it will launch its new Ada Lovelace graphics chips next month, while also introducing the new NVIDIA IGX platform for high-precision edge artificial intelligence.

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Aimed at manufacturing and logistics as well as medical purposes, the IGX platform can help with factories and warehouses, as well as robotic surgeries and patient monitoring.

“As humans increasingly work with robots, industries are setting new functional safety standards for AI and computers,” Huang said in a statement. “NVIDIA IGX will help companies create the next generation of software-defined industrial and medical devices that can operate safely in the same environment as humans.”

Shares of Nvidia (NVDA) fell more than 2% in midday trading on Tuesday following the revelations.

The company also showcased new products and services for robotics developers, most notably the new Jetson Orin Nano System-on-Modules.

The Orin Nano is capable of delivering up to 40T operations per second or TOPS of artificial intelligence in the smallest form factor.

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It uses Nvidia’s (NVDA) Ampere architecture GPU, Arm-based CPUs and features next-gen deep learning, high-speed interfaces and faster memory bandwidth, and multi-mode sensor support.

The new Jetson Orin Nano modules will be available in January and start at $199.

Nvidia (NVDA) also said it will expand its partnership with Booz Allen Hamilton (BAH) to offer customers in both the private and public sectors an AI-enabled cybersecurity platform.

At the analyst call, Huang said the Omniverse platform consists of three components and that the company is producing its OVX computers in full production and getting them to customers as quickly as possible.

“I believe that Omniverse will be one of the first applications, alongside the web browser, to encompass virtually every organization,” Huang said.

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Although the platform as a whole is still in its infancy, Huang said the business model will likely be similar to that of the cloud computing model.

Huang added that Omniverse currently runs on Amazon’s (AMZN) Web Services, but the plan is to make it available to all cloud service providers.

When asked about the company’s gaming business, Chief Financial Officer Colette Kress said gaming is still driving “solid” sales in terms of Nvidia’s (NVDA) products and there is still solid demand for gaming products.

Earlier this week, investment firm Citi listed Nvidia (NVDA) as a sell among its top buy and sell calls across all sectors, including information technology.

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