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CES: GM’s Drive to Electrify and 3 Other Big Things to Watch for Tuesday

Look for announcements of new AMD and Nvidia graphics chips, among other things, at this year’s virtual show.

CES normally draws tens of thousands of people to Las Vegas in January to check out the latest technology from the biggest electronics and tech firms in the world, but this year it’s going virtual because of the pandemic.

The show began on Monday, and on Tuesday there are several keynotes and presentations that should be of particular interest to investors. Here are details on four of them:

1. GM 9 a.m.-10 a.m.

Who: Mary Barra, CEO

Where to watch it:

Barra’s keynote will preview some of GM’s  (GM) - Get General Motors Company Report upcoming electric vehicle launches as it strives to be seen as a rising power among clean energy car makers and a legitimate rival to Tesla TSLA, Bloomberg reported. Barra will continue to tout the carmaker’s all-electric future, a message that’s helped boost GM’s stock in recent months.

In November, the Detroit automaker increased its financial commitment to electric and automated vehicles to $27 billion through 2025 from the $20 billion it had planned before the Covid-19 pandemic, with GM planning to offer 30 all-electric models globally by 2025. The automaker also plans to have seven models with Super Cruise, its autonomous self-driving solution, in 2021, with that number growing to 12 by 2023.

2. AMD 11 a.m.-12 p.m.

Who: Lisa Su, CEO and President

Where to watch it:

Su is expected to potentially launch some new AMD  (AMD) - Get Advanced Micro Devices Inc. Report desktop graphics cards at CES 2021. AMD also announced a new Ryzen mobile gaming chip at last year’s show, so Su could debut another upgrade to that line this year. Su will also be presenting AMD’s vision for the future of research, education, work, entertainment and gaming.

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The chip giant’s recent purchase of Xilinx gives it entry into lucrative new markets, with Su saying the acquisition will enable AMD to sell more of its chips to the aerospace-defense, industrial and telecommunications markets, Bloomberg has reported. Over the past year, AMD shares are up more than 102%, compared to longtime rival Intel’s  (INTC) - Get Intel Corporation Report 11.6% decline over the same time period.

3. Nvidia 12:00 p.m.-12:30 p.m.

Who: Jeff Fisher, Senior VP, GeForce

Where to watch it:

Nvidia  (NVDA) - Get NVIDIA Corporation Report is holding a “GeForce RTX: Game On” event at this year’s show and has often unveiled new gaming chips at past events. It also is expected to showcase some new games that feature its latest ray tracing and rendering technologies, as well as new hardware products that incorporate its newest chips.

In Nvidia’s fiscal third quarter that ended in October, the company beat both earnings and revenue estimates, with its Graphics segment, which includes its gaming products and services, growing revenues by 25% year over year, and its Compute & Networking segment, which includes its data center and automotive products, growing revenues by 146% over last year. Nvidia shares are up 123% over the past year.

4. Best Buy 2:30 p.m.-3 p.m.

Who: Corie Barry, CEO

Barry is expected to discuss how she moved Best Buy  (BBY) - Get Best Buy Co. Inc. Report to its successful curbside pickup program so quickly after being forced to close retail locations because of the pandemic. More generally, Barry will discuss her vision for the future of technology.

The consumer electronics retailer posted stronger-than-expected fiscal third quarter earnings at the end of November, with revenues rising 21% year over year, same-store sales increasing 22.6% and online sales surging 174% as customers stocked up on appliances and electronics during the pandemic.

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