Nvidia (NVDA) stock surged to an all-time high on Monday, closing at $149.43, surpassing its previous record of $148.88 set on November 7, 2024. This increase of over 3% comes just ahead of CEO Jensen Huang’s highly anticipated keynote presentation at the Consumer Electronics Show (CES) taking place in Las Vegas.
As analysts and tech executives gather in Las Vegas, many are focusing on Nvidia, a leader in the AI chip sector. The company has historically used CES to unveil significant product launches, including last year’s introduction of new desktop graphics chips tailored for gaming and AI applications. Huang’s speech, scheduled for 6:20 p.m. PST, is expected to provide insights into the company’s future plans and the rapidly evolving AI landscape.
Investors are particularly excited about Nvidia’s forthcoming Blackwell AI chips. Analysts suggest that these chips could ignite a substantial demand cycle for Nvidia’s products, even amidst concerns regarding a slowdown in AI investment. Following a previous design flaw that delayed the launch of the Blackwell chips and speculation regarding overheating issues in related servers, Nvidia reassured stakeholders during its November earnings call that production is accelerating this quarter.
In addition to the Blackwell rollout, some analysts foresee Nvidia could announce a new standalone central processing unit (CPU) at CES. Such a move may present an additional market opportunity worth $35 billion, according to Truist Securities analyst William Stein. Meanwhile, Bank of America’s Vivek Arya expects Nvidia to reaffirm its market leadership, offering promising updates on its Blackwell deliveries and possibly discussing new ventures into robotics and partnerships for AI PCs.
In summary, Nvidia’s stock performance leading into CES reflects robust investor confidence, fueled by potential product launches and strategic announcements. The excitement surrounding the Blackwell chips and the possibility of introducing a CPU may pave the way for substantial growth opportunities, highlighting Nvidia’s pivotal role in the tech industry’s AI advancements. With Huang’s keynote on the horizon, many are eager to see how Nvidia will shape the future of artificial intelligence technology.