nvidia (NVDA) stock rose 4.7% on Monday ahead of CEO Jensen Huang’s keynote speech at the annual The Consumer Electronics Show ( CES ) in Las Vegas, pushing shares north of $151 and putting the stock on track for a record close.
The stock’s most recent high was $148.88 per share on November 7, 2024.
As Wall Street analysts head to Sin City to meet with top tech companies’ management, all eyes are on the AI chipmaker.
Nvidia usually makes important product announcements at the CES trade show – like last year Introduction of new desktop graphics chips For gaming and AI – while Huang’s comments are expected to give investors a preview What’s next for the giants of artificial intelligence and the growing artificial intelligence market?
Te Huang will deliver his keynote speech Monday at 6:20 pm PST. It will be streamed live on Facebook, YouTube, LinkedIn and other sites.
His announcement comes as investors eagerly await the rollout of Nvidia’s latest Blackwell AI chips, which analysts say will drive a massive new round of demand for the company’s products, despite fears of a slowdown in AI spending.
The rollout of its Blackwell lineup was pushed back after a design flaw and Rumors of overheating problems Among servers using those chips that have been circulated, Nvidia confirmed in a November earnings call that Blackwell production is up in the current quarter. Shipping chips to customers ahead of expectations. Stifel analyst Ruben Roy has suggested this Blackwell AI chips represent a $100 billion market opportunity For Nvidia.
Monday’s jump in Nvidia stock extends its gains from last week, when the chipmaker The “manifest seven” led to a boom in tech stocks After a disappointing end to 2024.
In another potential tailwind for Nvidia shares, Truist Securities analyst William Stein said in a note Monday that he believes Nvidia will announce a standalone CPU, or central processing unit — the “brain” of a computer, Nvidia’s Hopper. And distinct from Blackwell GPUs, or graphics processing units — at CES. Stein has said in previous notes that such an announcement could open up more opportunities in the $35 billion market for the company.
Bank of America’s Vivek Arya said in a note on Monday that while “NVDA stock has essentially stagnated over the past 6 months,” he expects CES to be a “positive catalyst for NVDA’s platform.” reasserting dominance.” Arya said he believes Nvidia will provide “reassuring updates” on its Blackwell shipments and announcements about its robotics strategy and, potentially, an AI PC partnership.
