A commencement speech or commencement address is a speech given to graduating students, generally at a university, although the term is also used for secondary education institutions. The "commencement" is a ceremony in which degrees or diplomas are conferred upon graduating students. A commencement speech is typically given by a notable figure in the community, during the commencement exercise. The person giving such a speech is known as a commencement speaker. Very commonly, colleges or universities will invite politicians, important citizens, or other noted speakers to come and address the graduating class.
Drawing from some of the most pivotal points in his life, Steve Jobs, chief executive officer and co-founder of Apple Computer and of Pixar Animation Studios, urged graduates to pursue their dreams and see the opportunities in life's setbacks-- including death itself-- at Stanford University's 114th Commencement on Sunday in Stanford Stadium.