Nvidia's stock surged after CEO Jensen Huang announced "insane" demand for the company's new AI chips

Nvidia's highly anticipated next-generation AI chip, Blackwell, is now in full production and has sparked "insane" demand, according to CEO Jensen Huang. The company's CEO expressed excitement about the overwhelming interest in the platform, emphasizing the competitive drive among businesses to adopt the latest AI technology.

Following Huang's comments on CNBC, Nvidia's stock saw a significant increase, rising nearly 3% during midday trading on Thursday. This surge added to the company's impressive 152% stock growth year-to-date.

In August, Nvidia revealed that it had shipped samples of Blackwell to select customers and outlined plans to ramp up production in the fourth quarter and beyond. The company implemented a change to Blackwell's GPU mask to optimize production yield, ensuring no functional changes were required.