After Nvidia reports its second-quarter earnings this week, investors should keep a keen eye on another important AI chip stock.

NVIDIA (NVDA) recently launched its Spectrum-XGS Ethernet, aimed at enhancing AI data center capabilities. This significant technological advancement possibly fueled the company's 36% price surge over the last quarter.

The nuance here is that the dot-com bubble was defined by abundance — too many companies, too much capital, and too many competing investment ideas. Meanwhile AI, at least so far, offers a story of scarcity built almost entirely on a single company.

The annual HotChips conference starts this Sunday, Aug. 24, in San Francisco. Nvidia is scheduled to present six sessions covering topics of interest to AI data center users and operators and will make several key announcements I’ll cover in this article. (Like most AI semiconductor-related companies, Nvidia is a client of Cambrian-AI Research.)

NVIDIA CEO Jensen Huang says that its new Blackwell Ultra GB300 AI server platform is in full-scale mass production, output is ramping up successfully.

The National Science Foundation and NVIDIA are investing $152 million in an open-source AI initiative led by Ai2, delivering reproducible AI models to accelerate scientific discovery and reshape enterprise IT strategies.

In a rare interview, Foxconn execs reveal how their Houston projects with Apple and Nvidia will serve as a "training camp" for the next generation of America's AI workforce.

Comparatively, NVLink Fusion, a network fabric technology Nvidia unveiled in May, allows cloud providers to scale up their data centers to handle millions of GPUs at a time. Together, NVLink Fusion and Spectrum-XGS represent two layers of scaling AI infrastructure: one inside the data center, and one across multiple data centers.

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