NVIDIA, AMD, Intel Set for CES 2026 AI Chip Showdown
Jensen Huang's keynote kicks off a critical week for chip stocks as NVIDIA, AMD, and Intel compete to define the next generation of AI computing.
CES 2026 officially begins Tuesday, but the real action starts today when NVIDIA CEO Jensen Huang takes the stage for what promises to be the most watched keynote of the conference. AMD's Lisa Su follows hours later, setting up a direct comparison that could move chip stocks through the week.
Huang's presentation, scheduled for 1 PM Pacific, will focus on "what's next in AI," according to NVIDIA's event page. The company may also address robotics, autonomous vehicles, and gaming, though AI dominates investor attention given its role in NVIDIA's recent market cap explosion.
"Nvidia is the hottest company on the market right now," noted one industry analyst previewing the show. "Their AI focus is expected to be the major takeaway."
What NVIDIA Might Announce
NVIDIA has kept specific product announcements under wraps, but the company's recent trajectory suggests several possibilities. Updates on the Blackwell architecture, which powers NVIDIA's latest data center GPUs, would directly address the AI training market where the company holds commanding share.
Consumer-facing announcements could include new GeForce RTX cards, though the PC gaming market matters less to NVIDIA's valuation than its data center business. Any gaming news would likely tie back to AI features like DLSS upscaling and frame generation.
Robotics deserves attention. NVIDIA has invested heavily in its Omniverse platform and Isaac robotics toolkit, positioning for what many see as AI's next major application frontier. Industry observers expect robotics to "steal the spotlight" at this year's CES.
AMD's Response Window
Lisa Su's keynote begins at 6:30 PM Pacific, giving AMD roughly five hours to craft a response to whatever Huang announces. The company will likely introduce new Ryzen AI 400 Series chips and may unveil FSR Redstone, its next-generation AI upscaling technology designed to compete with NVIDIA's DLSS.
AMD has gained ground in the AI accelerator market but remains a distant second to NVIDIA in data center GPUs. The company's strategy emphasizes value and efficiency rather than matching NVIDIA's raw performance, a positioning that resonates with cost-conscious cloud customers.
Watch for AMD to emphasize its MI300X accelerators, which have seen meaningful adoption at major cloud providers. Anything suggesting accelerated customer wins would support AMD's thesis that the AI chip market can support multiple winners.
Intel's Turnaround Catalyst
Intel's Jim Johnson takes the stage earlier in the day to provide updates on Core Ultra Series 3, codenamed Panther Lake. These chips represent Intel's first use of its 18A manufacturing process, a critical milestone for the company's broader turnaround effort.
Intel stock has lagged both NVIDIA and AMD as the company works to close technology gaps in both chip design and manufacturing. Panther Lake offers proof points on both fronts, since it combines new architectural features with Intel's most advanced fabrication technology.
For Intel bulls, this week matters less for immediate revenue impact than for demonstrating execution capability. If Panther Lake reviews favorably against AMD's competing products, it validates Intel's multi-year transformation story.
Qualcomm's Mobile AI Angle
Qualcomm rounds out the major chip presentations with CEO Cristiano Amon participating in a fireside chat. The company is bringing Snapdragon X2 Elite chips to CES, targeting the Windows laptop market where it competes with Intel and AMD.
Qualcomm's mobile heritage gives it a different angle on AI computing. Snapdragon chips power the majority of Android smartphones, and the company is pushing that neural processing expertise into PCs and other devices.
The Samsung announcement earlier today about doubling Gemini-powered devices underscores how mobile AI is becoming a battleground. Qualcomm supplies chips for many Samsung phones, creating indirect exposure to that 800 million device target.
How to Trade the Announcements
CES keynotes can move chip stocks, but the moves often prove temporary unless announcements significantly exceed or disappoint expectations. The market has priced in strong AI momentum for NVIDIA, meaning upside requires genuine surprises.
AMD offers more asymmetric risk. The stock trades at lower multiples than NVIDIA, so positive announcements could drive meaningful re-rating. But AMD also has more to prove, making disappointment a bigger risk.
Intel's setup is the most binary. Panther Lake either validates the turnaround or it doesn't. Given how beaten down Intel's stock has become, a strong reception could trigger sharp gains. But investors have been hurt before by Intel's failure to deliver on transformation promises.
For traders not looking to bet on specific outcomes, the simplest approach is waiting for the keynotes to conclude before positioning. Let the initial reactions play out, then assess whether the market's read looks justified by the actual announcements.
The broader market context favors risk-taking, with the S&P 500 coming off three consecutive years of double-digit gains. Chip stocks have been leaders in that rally, and CES 2026 offers the first major catalyst of the new year to test whether momentum continues.