Nvidia CEO Jensen Huang displays the new Blackwell GPU chip, left, and the Hopper GPU chip, right, in March 2024. Photographer: David Paul Morris/Bloomberg via "There

Nvidia chief Jensen Huang said during an interview with CNBC on Wednesday that demand for the tech giant’s Blackwell “Superchip” is “insane,” sending Nvidia shares up more than 3% on Thursday. Nvidia shares reached as high as $124.26 on Thursday before cooling down to $122.80 at market close, a 3.3% jump.

The company is used to seeing high demand for its products, so it was noteworthy when in a recent CNBC interview, CEO Jensen Huang called demand for chips based on its new Blackwell architecture "insane." Let's take a closer look at Huang's comments and what it could mean for the stock.