Did Nvidia (NVDA) manage to excite investors about the company's stock during its annual developer event? This is the question being pondered on Wall Street.

Let's first focus on the presentation: CEO Jensen Huang appeared in his iconic black leather motorcycle jacket at the GTC event, a departure from the shiny alligator leather jacket he wore at a previous Consumer Electronics Show keynote.

The event showcased new powerful AI chips like Blackwell Ultra and Vera Rubin, contributing to the potential advancement of society's productivity.

Huang also shared significant figures regarding AI's impact, notably projecting Nvidia’s data center infrastructure revenue to reach $1 trillion by 2028.

However, despite these updates, investors were already anticipating such advancements, seeking new catalysts to drive the stock further.

Benchmark Company analyst Cody Acree commented that the event mainly provided additional details on existing projects, lacking major surprises.

Following the event, Nvidia's stock dropped by 3.4% on Tuesday, with a slight recovery the next day before the market opened.

The stock has decreased by 14% year-to-date, as concerns arise about Nvidia's future growth speed.

While some analysts, like Wedbush's Dan Ives, praised Huang for presenting a strong long-term AI vision, others desire more immediate specifics.

The GTC event updates didn't alter analysts' price targets and ratings for Nvidia stock, such as Stifel analyst Ruben Roy, who remains positive on the company, citing advancements in AI infrastructure.