Nvidia stock climbs as CFO says new chip to ship in 2024

FILE PHOTO: The logo of NVIDIA as seen at its corporate headquarters in Santa Clara, California, in May of 2022. Courtesy NVIDIA/Handout via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. MANDATORY CREDIT/File Photo

SAN JOSE, California (Reuters) -Nvidia's stock climbed on Tuesday after the heavyweight chipmaker said its new flagship AI processor is expected to ship later this year and CEO Jensen Huang said he is chasing a data center market potentially greater than $250 billion.

Nvidia's stock rose nearly 2% to $901 after Huang and Chief Financial Officer Colette Kress answered questions from investors at the company's annual developer conference in San Jose, California. The shares had dipped nearly 4% earlier in the day.