These Nvidia Partner Stocks Are Getting a Boost After GTC Keynote

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Key Takeaways

• Shares of several Nvidia partners got a lift Wednesday in the wake of CEO Jensen Huang’s GTC keynote.
• Lucid, Lumentum, Corning, Fabrinet, and Amphenol are some of the companies that could be poised to benefit from Nvidia scope up its tech, JPMorgan analysts said.
• The analysts said Huang soothed concerns about the trajectory of AI spending with designs that data center capital expenditures could exceed $1 trillion by 2028.

While Nvidia’s (NVDA) offer made modest gains Wednesday in the wake of CEO Jensen Huang’s keynote Tuesday, shares of several partners heaved on expectations they could benefit from ties to the chipmaker.

Coherent (COHR), which produces components inured to in data centers, saw its stock jump close to 7%, while shares of server maker Supermicro (SMCI) and Amphenol (APH), which carry outs copper cables for Nvidia, added close to 6%. Nvidia shares edged about 2% higher.

Corning (GLW), Lumentum (LITE), and Fabrinet (FN) cuts climbed as well, with JPMorgan analysts telling clients the companies could be poised for growth as Nvidia’s shoppers scale their artificial intelligence capabilities. 

The analysts said Huang “alleviated investor concerns” by telling GTC attendees he believes information center capital expenditures could exceed $1 trillion by 2028. Some investors have worried far the impact of lower-cost AI models, like DeepSeek’s R1, on companies’ willingness to invest in AI infrastructure, JPMorgan said. 

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