Small Cap Stock Partners With NVIDIA, Shares Surge 10%

Shares of Netweb Technologies India Limited jumped back in the green on Tuesday breaking its two straight session losing streak.

What Happened: On Monday, Netweb Technologies India announced its alliance with NVIDIA to create NVIDIA Grace CPU Superchip and GH200 Grace Hopper Superchip MGX server designs. The Indian original equipment manufacturer (OEM) aims to generate over ten server variations under its Tyrone series, catering to a broad spectrum of AI and high-performance computing applications.

The AI systems from Netweb, powered by NVIDIA MGX, will concentrate on complicated workloads such as high-performance computing (HPC), data science, large language models, among others. This product line will also enable handling simultaneous workloads like AI training, inference, and 5G on a single system, ensuring smooth upgrades for future hardware generations.

See Also: Amazon India Sends Out Emails To Warn Users About Scammers

Sanjay Lodha, Chairman and Managing Director at Netweb said that this partnership will propel the locally manufactured cutting-edge technologies at par with global standards, aligning with the PMO vision and the ‘Make in India’ mission.

Why It Matters: NVIDIA has announced several partnerships with major Indian companies in the past few months. Prior collaborations include Reliance Industries for developing a large language model tailored for India, Tata Group for building an AI supercomputer, Infosys to bring generative AI applications to enterprises, L&T Technology Services to revolutionize medical devices, and Wipro to accelerate generative AI in the healthcare sector.

Price Action: Netweb’s share price was locked in 10% upper circuit at ₹892.40 as the markets opened on Tuesday.

Read Next: Samsung’s Next Big Smartphone Release Confirmed For India: Here’s What We Know

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: EquitiesNewsContractsMarketsMoversTrading Ideasartificial intelligenceNetweb TechnologiesNVIDIA