Nvidia stock closes at new record ahead of CEO Jensen Huang’s CES keynote

Nvidia (NVDA) inventory closed at a file excessive on Monday forward of CEO Jensen Huang’s keynote tackle on the annual Client Electronics Present (CES) in Las Vegas.

Shares rose greater than 3% to $149.43 — north of Nvidia’s earlier file closing value of $148.88 per share on Nov. 7, 2024.

As Wall Road analysts head to Sin Metropolis to fulfill with administration from high tech corporations, all eyes are on the AI chipmaker.

Nvidia sometimes makes essential product bulletins on the CES commerce present — similar to final 12 months’s debut of recent desktop graphics chips for gaming and AI — whereas Huang’s commentary is predicted to provide buyers a preview of what’s forward for the synthetic intelligence large and the burgeoning AI market.

Huang is scheduled ship his keynote at 6:20 p.m. PST on Monday. Will probably be livestreamed on Fb, YouTube, LinkedIn, and different websites.

His tackle comes as buyers eagerly await the rollout of Nvidia’s newest Blackwell AI chips, which analysts have stated will drive an enormous new cycle of demand for the corporate’s merchandise regardless of fears of a slowdown in AI spending.

After a design flaw pushed again the rollout of its Blackwell lineup and rumors of overheating issues in servers utilizing these chips circulated, Nvidia confirmed in a November earnings name that Blackwell manufacturing is ramping up within the present quarter, with the chips transport to prospects forward of expectations. Stifel analyst Ruben Roy has urged that the Blackwell AI chips symbolize a $100 billion market alternative for Nvidia.

The bounce in Nvidia inventory on Monday extends its positive aspects from final week when the chipmaker led a rebound within the “Magnificent Seven” tech shares after a disappointing finish to 2024.

In one other potential tailwind for Nvidia shares, Truist Securities analyst William Stein stated in a word Monday that he believes Nvidia will announce a standalone CPU, or central processing unit — the “mind” of a pc, distinct from Nvidia’s Hopper and Blackwell GPUs, or graphics processing items — at CES. Stein has stated in previous notes that such an announcement may open up one other $35 billion market alternative for the corporate.

Financial institution of America’s Vivek Arya stated in a word Monday that whereas “NVDA inventory has primarily stalled over the previous 6 months” he expects CES to be a “optimistic catalyst, re-asserting NVDA’s platform dominance.” Arya stated he believes Nvidia will present “reassuring updates” on its Blackwell shipments and bulletins about its robotics technique and, doubtlessly, an AI PC partnership.

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