Nvidia Inc. (NVDA) shares managed to staunch the bleeding a bit on Monday.
The hot chipmaker hit a bit of a speed bump last week when it reported Q2 earnings that beat analyst estimates, but issued guidance that was weaker than expected as chip demand from cryptocurrency miners plummeted. Shares fell almost 4% on Thursday after the results were released after the market closed on Wednesday, and fell slightly more on Friday.
On Monday, CEO Jensen Huang delivered the keynote address at Gamescom 2018, the world's biggest gaming expo, in Cologne, Germany. As expected, Huang gave lots of detail about the improvements available in Nvidia's new GeForce RTX 2080 series of graphics cards, which succeed the RTX 1080 series. The new cards are promised to deliver real-time ray tracing, which is a highly-demanding way to portray light realistically in computer-generated graphics, to video games.
Shares of Nvidia began the day down more than 1%, but by the end of Jensen's speech, they were up 1.2%.
A recording of the keynote speech, which began around noon ET, is available below.
A Not-So-Brief History of Ray Tracing
Before Huang's entrance, a video ran showing the history of the most advanced graphics rendering shots in movies and video games over the past 20 years. Once Huang opened, he joked that he has never seen a product announcement about which so much had been leaked in advance.
"The good news is that you will get surprised. We didn't do this intentionally, but everything on the web, every spec is wrong," Huang said.
Huang then went into considerable detail about the challenges of creating realistic-looking graphics and the giant leaps Nvidia has made in addressing all of them with constantly-advancing chips, but also chip architectures. Ray tracing, which was developed by a computer scientist in the 1970s who's know employed by Nvidia is one of the major techniques for rendering light realistically. Last week, Nvidia introduced its new Turing GPU architecture.