Nvidia Shows New Chips, Inks Toyota Deal for Robotic Cars

Shares of Toyota, Nvidia's suppliers rise on optimism about the AI chip maker's prospects

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Nvidia Corp. chief executive officer Jensen Huang announced a raft of new chips, software and services, aiming to stay at the forefront of artificial intelligence computing.

Huang took the stage at a packed arena in Las Vegas to kick off the CES trade show on Monday and present the new lineup, offering a vision for how AI will spread throughout the economy.

The company wants its products to be the heart of a future tech world with a billion humanoid robots, 10 million automated factories, and 1.5 billion self-driving cars and trucks.

Interest in Nvidia's products and Huang's forecasts has exploded as companies rush to deploy new AI computing gear.

The CEO outlined Nvidia's products and strategy to his audience of hundreds for more than 90 minutes, including tie-ups with Toyota Motor Corp. and MediaTek Inc. that sent their shares more than 3% higher.

Even before Huang's presentation, shares in Asian chipmaking suppliers surged on optimism about Nvidia's prospects, whose stock had just hit a fresh all-time high.

Microsoft Corp. had in the prior week announced plans to spend $80 billion on its AI data center buildout, much of which will be spent with Nvidia.

Nvidia shares rose 1.5% in pre-market trading on Tuesday.