Netweb Tech shares hit upper circuit after firm inks deal with chipmaker NVIDIA

Netweb Tech Share Price: Shares of Netweb Technologies touched the upper circuit of Rs 890.90 each on BSE on Tuesday after the tech firm announced a deal with globally renowned chipmaker, NVIDIA.

The shares of the Indian tech company were trading higher by 8.53 per cent, or Rs 69.05, at Rs 879 apiece, at 10:21 on Tuesday.

The stock closed Friday's trading session at Rs 809.95 and started its journey on Tuesday at Rs 875. It took little time to hit the upper circuit. 

What is Netweb Technology-NVIDIA deal?

Netweb Technologies, one of India's leading OEMs in high-end computing, on Tuesday announced that it was a manufacturing partner for the NVIDIA Grace CPU Superchip and GH200 Grace Hopper Superchip MGX server designs.

Under the deal, Netweb will "build and produce more than 10 server variations under its Tyrone range of AI systems meant for a wide range of AI and high-performance computing/supercomputing applications."

After the deal, Netweb’s AI systems will target complex workloads of HPC, data science, large language models, edge computing, enterprise AI, and design and simulation.

"The product range will also support handling a wide range of simultaneous workloads such as AI training, inference, and 5G on a single system," said the company in a statement.