Nvidia talks up robots alongside AI chips. The stock slips.

Nvidia CEO Jensen Huang devoted much of a presentation at the CES tech trade show in Las Vegas on Monday to how the company’s hardware would power AI in the physical world. The company promoted a range of programming libraries and other software products designed for robotics, autonomous vehicles and other examples of what Huang called “physical AI.”

“We believe the robotics and autonomous technology market represents an incremental market opportunity that Nvidia can tap into which speaks to our view that this company will exceed $5 trillion market cap in the near-term and ultimately could be a $6 trillion market cap,” wrote Wedbush analyst Dan Ives, an outspoken bull on technology stocks, in a research note.

But Nvidia shares showed little immediate reaction, moving down 0.1% in after-hours trading Monday. The stock fell 0.4% in Monday’s trading session.

The focus of the market remains firmly on Nvidia AI chips. There was good news there as Huang said the next-generation Vera Rubin processors were in “full production” ahead of their expected launch in the second half of the year.

For inference—delivering output from AI models—Rubin delivers a tenfold reduction in cost, compared with the current-generation Blackwell chips, the company said.

Write to Adam Clark at adam.clark@barrons.com