Now that the GTC (GPU Technology Conference) has become much ballyhooed in the general media we don't see as much lift for the stock as in days of yore. Going into one of the conferences, either San Jose or Teipei it struck me that unless Mr. Huang can levitate into the auditorium, the media reaction is often "meh."
And so it goes.
Where we have seen some action is in the secondary and tertiary names. When they turned the spotlight (literally) on Michael Dell last year it was, not quite a sign from God but a pretty good tell on the action:
Up 61% over the twelve months.
And from Investor's Business Daily, March 16:
AI Stocks: Nvidia GTC News Could Jolt Broadcom, Dell, CoreWeave, Arista, Lumentum
As volatility in artificial intelligence stocks plays out in 2026, Nvidia's (NVDA) GTC this week could jolt a wide range of companies beyond the chip giant itself. Many of the leading AI stocks last year have turned into laggards. But there are bright spots, such as memory chip makers.
Further, Nvidia's updated AI chip roadmap at GTC will be closely watched by rivals such as Broadcom (AVGO). Its data-center networking strategy could influence suppliers like Arista Networks (ANET), while Nvidia's push into optical interconnects has implications for component makers such as Lumentum Holdings (LITE).
AI computer server makers such as Dell Technologies (DELL) and Hewlett Packard Enterprise (HPE) could react to updates on Nvidia's next-generation GPU systems. Cloud computing partners including CoreWeave (CRWV) and Nebius Group (NBIS) may see volatility tied to demand signals for AI infrastructure.
Nvidia GTC: Huang Keynote
Nvidia Chief Executive Jensen Huang will deliver a keynote presentation on Monday at 11 a.m. PT. Aside from Nvidia technology, he's expected to highlight developments in the AI ecosystem, including open software models and agentic systems. OpenClaw, an open-source AI agent that can write code and surf the web to complete tasks on behalf of users, could be as big a game-changer as ChatGPT.While Nvidia is ramping up production of "Vera Rubin" AI accelerators, this year's GTC is expected to bring news related to Nvidia's $20 billion technology licensing agreement with Groq announced in December. One change in the AI accelerator market is that demand will shift from training AI models to "inferencing," or running AI applications. At GTC, Nvidia is expected to unveil a new AI inferencing chip using Groq's technology.
AI Stocks: Hyperscalers Retreat
Nvidia stock has retreated 3% in 2026. Further, Nvidia stock has been in a trading range since mid-2025. One view is that investors are focusing on the sustainability of hyperscaler capital spending growth and the longevity of the AI business cycle. In other words, investors are focused on the duration of the AI boom, not the magnitude.Meanwhile, investors are scrutinizing capital spending hikes by hyperscalers — cloud computing giants that build massive data centers. Shares in all the hyperscalers have under-performed in 2026 amid worries that they're building too much AI infrastructure, too fast.
Four hyperscalers — Alphabet's (GOOGL) Google, Amazon.com (AMZN), Meta Platforms (META) and Microsoft (MSFT) — are now expected to spend $645 billion in 2026, representing growth of 56% or $230 billion on a dollar basis. Google stock is down 3% this year while Meta has retreated 7%. Amazon stock has pulled back 10%. Microsoft stock is down 18%.
In 2026, investors prefer some data center plays over AI chip suppliers amid intensified semiconductor competition. Among the top-performing AI stocks this year have been Lumentum, Ciena (CIEN), Applied Optoelectronics (AAOI), and Vertiv HoldingsVRT.....
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In pre-market trade the big dog's stock is up $2.92 (+1.62%) to $183.17 making up Friday's $2.91 drop.
