Nvidia Stock Surges Ahead of CEO’s CES Keynote
Nvidia Corporation’s stock experienced a significant 5% surge on Monday, approaching record highs as investors eagerly anticipate CEO Jensen Huang’s keynote speech at the Consumer Electronics Show (CES) in Las Vegas. The company’s shares reached an intra-day high of $152.16, just shy of its all-time high of $152.89.
Bank of America analysts have noted a historical trend of Nvidia stock rising during Huang’s CES speeches. Data shows that in 2024, Nvidia stock increased by 6.4% on the day of Huang’s address, with continued gains in subsequent days. This movement is particularly noteworthy given the recent range-bound trading of Nvidia shares.
Despite investor concerns about a potential end to the AI capital expenditure boom and Nvidia’s stock trading sideways for approximately six months, market analysts remain optimistic. Bank of America analyst Vivek Arya anticipates that Huang’s speech will focus on AI integration in robotics, introducing the concept of “physical AI” and outlining Nvidia’s comprehensive strategy from silicon to software in this sector.
The tech community is also buzzing with expectations of new product announcements. Industry insiders predict the launch of new PC gaming cards based on Nvidia’s next-generation AI chip architecture, Blackwell. Additionally, updates on the company’s data center business and the ramp-up of Blackwell chips are anticipated, with new variants like the GB300 and B300 expected to launch in the latter half of the year.
Analysts view CES as a positive catalyst for Nvidia, reinforcing its dominance in high-growth markets. Citi analysts have placed Nvidia on “positive catalyst watch” during the event. Arya maintains a “Buy” rating for Nvidia with a $190 price target, suggesting a potential 26% upside.
As the tech world turns its attention to Las Vegas, Nvidia’s performance at CES could set the tone for its market position in the coming year, particularly in the rapidly evolving fields of AI and robotics.
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