Nvidia (NVDA) stock ended up on a record sky-high on Monday ahead of CEO Jensen Huang’s keynote address in the Las Vegas at the annual Consumer Electronics Show (CES). Nvidia’s previous record closing price of shares ended up on $148.88 per share on November 7, 2024. This time shares rose more than 3% to $149.43.
AI Chip Maker
All eyes are on the AI Chip Maker as the Wall Street Analysts advance to Sin City to meet management from the top tech companies.
Every essential product announcement is made at the annual CES trade show by Nvidia. Like the last year’s debut of new desktop graphics chips for gaming and AI, while Huang’s commentary is expected to give investors a preview of what’s ahead for the artificial intelligence giant and the burgeoning AI market.
Huang’s Next Schedule
Huang is scheduled to share his keynote at 6:20 p.m. PST on Monday. It will be livestreamed on Facebook, YouTube, LinkedIn, and other sites.
His address comes as sponsors eagerly await the launch of Nvidia’s latest Blackwell AI chips, which assessors have told that they’ll drive an enormous new cycle of demand for the company’s products despite fears of a slowdown in AI spending.
Ups and Downs
The design pushed back the premiere of its Blackwell line-up and rumors of overheating problems in servers using those chips circulated. Nvidia confirmed in a November earnings call that Blackwell production is amplifying in the current quarter, with the chips shipping to customers ahead of expectations. Stifel analyst Ruben Roy has suggested that the Blackwell AI chips represent a $100 billion market opportunity for Nvidia.
The jump in Nvidia stock on Monday extends its gains from last week when the chipmaker led a rebound in the “Magnificent Seven” tech stocks after a disappointing end to 2024.
Vivek Arya
Bank of America’s Vivek Arya said in a note that while “NVDA stock has essentially stalled over the past 6 months” he expects CES to be a positive catalyst, re-asserting NVDA’s platform dominance. Arya said he believes Nvidia will provide “reassuring updates” on its Blackwell shipments and announcements regarding its robotics strategy and, potentially, an AI PC partnership.
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Muhammad Bin Nadeem
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