AI to be in spotlight as Nvidia kickstarts its GTC event
Justin Sullivan

Much of the tech sector's attention on Monday will be on Nvidia (NASDAQ:NVDA) as the graphics chipmaker kicks off annual GTC event and goes into more detail about its plans for the artificial intelligence market.
Nvidia (NVDA) Chief Executive Jensen Huang will take the stage at GTC Tuesday morning, and the company has already made it know what Huang's keynote address will focus upon. In a company blog post, Nvidia (NVDA) said Huang "will share his vision for the future of AI and how Nvidia is accelerating it with breakthrough technologies and solutions."
Officials from companies such as Adobe (ADBE), Amazon (AMZN), IBM (IBM) and Netflix (NFLX) are also scheduled to appear at GTC and discuss their advances in the AI market.
When Nvidia (NVDA) reported its fiscal fourth quarter results in February, Huang said the AI market is at "an inflection point," and that, "Nvidia is essentially the operating system for AI systems today."
Wall Street has shown its support for Nvidia (NVDA) in a big way of late, as the company's shares have risen more than 76% this year.
On Friday, Morgan Stanley showed its support for Nvidia (NVDA) as analyst Joseph Moore raised his rating on the company's stock to overweight from equal-weight, and lifted price target to on the company's stock to $304 a share from $255. Moore said that Nvidia (NVDA) involvement in AI is "one of the most significant developments in technology since the development of mobile Internet."