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Nvidia Corporation

6/18/2013, 9:58 PM ET

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Tuesday, June 18, 5:27 PM In a strategy shift, Nvidia (NVDA) is offering to license its Kepler GPU architecture, as well as "visual computing" IP, to other chipmakers looking to power mobile hardware. Kepler serves as the foundation for much of Nvidia's PC/workstation GPU lineup, as well the GPU within its next-gen Tegra 5 (Logan) processor. Nvidia's move puts it into competition with GPU core licensing leader Imagination (IGNMF.PK), and also ARM's (ARMH) fast-growing Mali GPU core business. Potential licensees include Qualcomm (uses home-grown GPUs), Intel (ditto), Apple (Imagination client), and Samsung (Imagination and Mali client). Tough competition for Tegra may have influenced Nvidia's decision. 4 Comments [Tech]
Tuesday, June 18, 5:05 PM The next version of Surface RT (MSFT) will rely on both Qualcomm (QCOM) and Nvidia (NVDA) CPUs, Bloomberg reports. Though details are scant, one likely possibility is that Nvidia (the sole supplier for the first-gen RT) will power Wi-Fi-only models, and Qualcomm will power 3G/4G-capable models. The report comes as all signs indicate Qualcomm is set to displace Nvidia as the Nexus 7's CPU supplier. Meanwhile, Microsoft is selling the 32GB version of RT for just $199 (a 60% discount) to schools until Aug. 31, the latest in a string of aggressive promotions ahead of a refresh that could be announced at the upcoming BUILD conference. 2 Comments [Tech]
Monday, June 17, 2:32 PM With the help of Qualcomm (QCOM) silicon supporting the LTE-Advanced standard, Samsung (SSNLF.PK) is set to release a version of the Galaxy S4 that can deliver twice the download speeds of current models. GigaOm isn't too impressed, pointing out Samsung appears to be adopting a simple version of LTE-Advanced that offers a technique for pooling spectrum bands (carrier aggregation). Meanwhile, Reuters points out many analysts have lowered their S4 sales estimates to ~7M/month from a prior ~10M/month, following order cut reports. That could be pressuring Universal Display's (PANL -1.5%) shares. Qualcomm has an early lead in supporting LTE-Advanced, but Broadcom (BRCM) and Nvidia (NVDA) aren't far behind (I, II). Comment! [Tech]
Friday, June 14, 5:21 PM iOS 7 (AAPL) comes with specs enabling game controllers to interact with iDevices, according to a developer doc seen by the WSJ. Though the doc says controllers "must not be required" for a game to work, it's still likely music to the ears of game developers (EA, ATVI, TTWO, GLUU), who have both been trying to profit from tremendous mobile gameplay growth, and struggling to get users to pay up-front (as opposed to downloading free-to-play titles). The report comes a month after Tim Cook said Apple will give developers more options to customize iOS, and days after IDC and App Annie predicted mobile game revenue will top $12B this year. Nvidia (NVDA) is trying to kick-start controller-based Android gaming via its Shield console. 9 Comments [Tech]
Tuesday, June 4, 2:10 PM Nvidia (NVDA -0.2%) roundup: 1) Talking at Computex, CEO Jen-Hsun Huang says Nvidia is open to using M&A to obtain technologies that "fit into businesses." The most prominent recent example of such a move is the 2011 purchase of baseband chip vendor Icera. 2) Nvidia is showing off stylus tech for Tegra-powered devices it claims offers both improved accuracy and battery life - could it find its way into a Samsung Galaxy Note or rival device? 3) Toshiba and Asus have unveiled high-res Android tablets featuring Tegra 4 CPUs. H-P recently announced a Tegra 4 Android convertible. Comment! [Tech]
Tuesday, June 4, 1:44 PM Intel (INTC +1.8%) roundup: 1) Intel follows up on its first Haswell launches by unveiling over a dozen CPUs aimed at notebooks and tablets/convertibles. Intel promises an 11% ultrabook performance boost relative to Ivy Bridge, and 7+ days of standby. Though Intel wants $600 ultrabooks in 2013, near-term pricing is a concern. 2) Intel claims 15 convertible designs are in the pipeline, and that there should be 50 by year's end. Plenty of designs are being shown off at Computex. 3) Intel's VC arm is creating a $100M fund to invest in "perceptual computing" tech such as voice/gesture control and emotion sensing. 4) Intel shows off a demo phone containing its Merrifield Atom CPU. The 22nm chip will ship early next year, and compete against Qualcomm (QCOM) and Nvidia's (NVDA) high-end offerings. 1 Comment [Tech]
Tuesday, May 14, 1:04 PM Nvidia's (NVDA +1.6%) Shield Android console will ship at the end of June and sell for $349 (well above the the PS Vita and Nintendo 3DS' prices). The chipmaker also states the Tegra 4-powered device, aimed at enthusiasts and meant to kick-start demand for more powerful Android games, will have 16GB of storage and stereo speakers to go with its 5" 720p display and Xbox-like controller. Downloads from Google Play and Nvidia's Tegra Zone store will be supported. The Verge states a Shield prototype "performed quite well," but added the game-streaming feature needs work. Nvidia says it's working with Android developers to ensure app compatibility. Comment! [Tech]
Tuesday, May 14, 9:02 AM Nvidia (NVDA) strikes a deal with Goldman allowing the chipmaker to buyback $750M worth of shares. The company previously said it would return $1B to stockholders this year. Shares +1.76% premarket. Comment! [Tech, On the Move]
Friday, May 10, 4:10 PM "Nvidia’s (NVDA +4.5%) gross margin upside in a humbling quarter for Tegra and an 'apocalyptic' PC environment was quite impressive," writes Raymond James following the FQ1 report. Judging by today's rally, many agree. RJ sees the margin strength as proof demand for high-end GPUs for gaming/computing/workstations "is likely more inelastic than thought." Others are worried about the Tegra unit, which is losing share ahead of the Tegra 4 (FQ2/FQ3) and 4i (FQ4/FQ1) launches. On the earnings call, CEO Jen-Hsun Huang admitted Tegra's gross margin is below Nvidia's total GM, but added margins for GRID and Tesla (also expected to grow fast in 2H) are above-average. AMD +2.3%. 1 Comment [Tech, On the Move, Earnings]
Friday, May 10, 9:14 AM NVIDIA (NVDA) declares $0.075/share quarterly dividend, in line with previous. Forward yield 2.16%. For shareholders of record May 23. Payable June 14. Ex-div date May 21. (PR) Comment! [Dividends]
Thursday, May 9, 4:56 PM More on Nvidia: GAAP gross margin was 54.3% in FQ1, +140 bps Q/Q and +420 bps Y/Y, and beating guidance of 52.9%. GM expected to be flat Q/Q in FQ2. GPU division sales -5.6% Q/Q (PC weakness, inventory cuts) but +8.1% Y/Y (share gains, stronger Kepler mix). Tegra division sales -22.2% Q/Q and -50.5% Y/Y, a big reversal from FQ4's 90% Y/Y growth as Tegra 3 device production slows down (the Nexus 7?). Tegra 4 design wins to be announced in FQ2, followed by 2H ramp. R&D spend +15% Y/Y, well above 3% rev. growth (Tegra/console/GRID investments). SG&A +2%. NVDA +1% AH. (PR) (slides, CFO comments - .pdf) Comment! [Tech, Earnings]
Thursday, May 9, 4:31 PM Nvidia (NVDA): FQ1 EPS of $0.13 beats by $0.03. Revenue of $954.7M (+3.2% Y/Y) beats by $14.2M. Expects FQ2 revenue of $975M (+/- 2%), below consensus of $1.01B. Shares +2% AH. CC at 5PM ET (webcast). (PR) 6 Comments [Tech, Earnings, Breaking News]
Thursday, May 9, 12:10 AM Notable earnings after Thursday’s close: AGO, AIRM, AL, ALIM, ANAC, ASYS, AUQ, BCEI, BID, BPZ, CALL, CPE, DAR, EGY, ET, FTK, FXEN, GXP, KTOS, LLNW, MBI, MCP, MDRX, MDVN, NGVC, NVDA, OPTR, PANL, PCLN, PDLI, PSA, RNDY, SF, SLXP, SQNM, TNGO, UBNT, ZGNX Comment! [Earnings]
Wednesday, May 8, 5:35 PM Notable earnings after Thursday’s close: AGO, AIRM, AL, ALIM, ANAC, ASYS, AUQ, BCEI, BID, BPZ, CALL, CPE, DAR, EGY, ET, FTK, FXEN, GXP, KTOS, LLNW, MBI, MCP, MDRX, MDVN, NGVC, NVDA, OPTR, PANL, PCLN, PDLI, PSA, RNDY, SF, SLXP, SQNM, TNGO, UBNT, ZGNX Comment! [Earnings]
Sunday, May 5, 1:26 PM The GPUs integrated with mid-range and high-end versions of Intel's (INTC) upcoming Haswell CPUs could be a threat to AMD and Nvidia's (NVDA) discrete GPU sales, ZDNet points out. Intel claims the GPUs, codenamed Iris, will deliver a 2x-3x performance gain (depending on the CPU model) over the ones integrated with comparable Ivy Bridge CPUs. However, more power-efficient Haswell ultrabook chips will ship with HD 5000 GPUs (though Intel still promises performance gains here). Integrated GPUs (both from Intel and AMD) have been steadily taking share from discrete GPUs for years. (more on Haswell) 11 Comments [Tech]
Thursday, May 2, 9:38 PM "Intel’s (INTC) competitive advantage is its expertise in manufacturing," writes Quartz's Christopher Mims, making the case ex-manufacturing chief Brian Krzanich is a better choice for CEO than an outsider. Though its mobile processor lines have lagged in adopting its most advanced processes, Intel's PC CPUs are made on a 22nm process at a time when Qualcomm, Nvidia, and others are at 28nm ... and they should get to 14nm while rivals are at 20nm. If Krzanich can eliminate the lag, it could give Intel an edge when battling for mobile design wins, at least when 4G modem integration (where Qualcomm has a lead) isn't required. (previous: I, II) 3 Comments [Tech]

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