Nvidia Stock Soars to Record High Ahead of CEO’s Keynote Address
As the tech world converges on Las Vegas for the annual Consumer Electronics Show (CES), Nvidia’s stock has reached unprecedented heights. On Monday, shares surged over 3% to close at $149.43, surpassing the previous record of $148.88 per share set on November 7, 2024.
All Eyes on Jensen Huang’s Keynote Address
Wall Street analysts are eagerly anticipating CEO Jensen Huang’s keynote address, scheduled for 6:20 p.m. PST on Monday. The livestreamed event will provide investors with a glimpse into the future of the artificial intelligence giant and the burgeoning AI market. Huang’s commentary is expected to shed light on Nvidia’s product roadmap and its plans to capitalize on the growing demand for AI technology.
Blackwell AI Chips: A Game-Changer for Nvidia
The rollout of Nvidia’s latest Blackwell AI chips is highly anticipated, with analysts predicting a massive new cycle of demand for the company’s products. Despite initial setbacks, including a design flaw and rumors of overheating issues, Nvidia confirmed in its November earnings call that Blackwell production is ramping up in the current quarter, with shipments ahead of schedule. Stifel analyst Ruben Roy estimates that the Blackwell AI chips represent a staggering $100 billion market opportunity for Nvidia.
A Standalone CPU Announcement on the Horizon?
Truist Securities analyst William Stein believes that Nvidia may announce a standalone CPU, or central processing unit, at CES. Such a move could open up another $35 billion market opportunity for the company, further solidifying its position in the AI market.
Positive Catalyst Ahead
Bank of America’s Vivek Arya expects CES to be a positive catalyst for Nvidia’s stock, reasserting the company’s platform dominance. Arya predicts that Nvidia will provide reassuring updates on its Blackwell shipments and announce new developments in its robotics strategy and AI PC partnership.
Nvidia’s Stock on the Rise
The jump in Nvidia’s stock on Monday extends its gains from last week, when the chipmaker led a rebound in the “Magnificent Seven” tech stocks. As the company continues to innovate and expand its product offerings, investors are increasingly optimistic about its future prospects.
Leave a Reply