Nvidia Soars on New AI Chip and Fed Rate Outlook, Lifting Micron and Broader Markets
• Markets rallied strongly on Wednesday, lifted by Nvidia's announcements of new AI computing platforms "Blackwell" at its annual conference
• Blackwell delivers 4x faster AI training and 30x faster inference than Nvidia's current flagship H100 chip
• All major cloud and AI operators will use Blackwell, expanding Nvidia's reach across industries
• Fed Chair Jerome Powell signaled interest rate cuts remain on track for 2024 despite some inflation upticks
• Micron rallied on strong earnings results and revenue guidance, buoyed by demand for its AI hardware