These Nvidia Partners Stocks are Getting a Bounce After GTC Keynote

Takeaways

• Shares of several Nvidia partners got a lift Wednesday in the wake of CEO Jensen Huang's GTC keynote.
• Analysts from JPMorgan say that Coherent, Lumentum Corning, Fabrinet and Amphenol could all benefit from the chipmaker’s ties.
• Huang’s projections that data centers could spend more than $1 trillion on capital expenditures by 2028, according to analysts, soothed concerns over the trajectory of AI.

While Nvidia’s (NVDA), stock gained modestly on Wednesday, following CEO Jensen Huang’s keynote speech Tuesday, shares for several partners soared amid expectations that they could benefit from ties with Nvidia.

Stocks of Supermicro, which makes servers, and Amphenol, which makes copper cable for Nvidia rose by close to 7%. Nvidia shares rose about 2%.

Corning (GLW), Lumentum, (LITE), Fabrinet, (FN), and Lumentum shares all rose as well. JPMorgan analysts told clients that these companies could be in a good position to grow as Nvidia’s clients scale up their AI capabilities. 

The analysts said Huang “alleviated” investor concerns by telling GTC attendees his belief that data center capital spending could exceed $1 trillion dollars by 2028. JPMorgan reported that some investors were concerned about the impact of cheaper AI models like DeepSeek R1 on companies’ willingness and ability to invest in AI infrastructure. 

Wedbush analysts said they expect strong demand for Nvidia's chips could have a "ripple impact,” estimating that for every $1 spent on an Nvidia chip there could be a $8 to $10 multiplier "across the tech ecosystem with the hyperscalers, software, data center buildouts, cyber security, and energy demand all benefiting.”