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What you need to know
- Nvidia CEO Jensen Huang launched this year’s CES trade show for consumer electronics with a Monday keynote speech that featured a flurry AI tech announcements.
- Nvidia shares reached a record high during early Tuesday trading, but then reversed course due to a general market decline.
- Bank of America analysts called the stock a "top pick," citing the chipmaker's AI dominance, anticipating further gains this year after shares nearly tripled in value in 2024.
Nvidia CEO Jensen Huang launched this year’s consumer electronics show on Monday with a slew announcements about artificial intelligence. Analysts called the stock of Nvidia (NVDA), which is a chipmaker, a “blockbuster”. “top pick” On its AI leadership
After the opening of trading, shares hit a new high of $153.13, before falling as a result of an overall market drop. In recent trading the stock fell 5.3%, to $141.50. It had closed at an all-time high on Monday before the event.
"There was a lot here I think for people to get excited about. I don't think the price action today really has much to do with anything that Jensen said or didn't say yesterday," said Bernstein analyst Stacy Rasgon in an interview with CNBC Tuesday morning. Rasgon pointed to the larger issues that are affecting the markets and suggested there may have been some profit taking after the stock reached new highs.
Nvidia Announces New Models of Chips for AI PCs. It also announces partnerships on self-driving vehicles and other news.
Nvidia announced new GeForce RTX 50 chips for AI PCs, which run on Nvidia Blackwell architecture.
GeForce RTX 50 range, consisting of the RTX 5070 (including the RTX 5070Ti), RTX 5080 and RTX 5090 is priced between $550 and $2,000; some desktops with these chips will be available later this week, while laptops are due to arrive in March.
Nvidia has also announced AI foundational models and its Cosmos Platform, which is meant to support the processing pipelines of robots, autonomous cars, and vision AI.
Huang called Cosmos a “game-changer for robotics and industrial AI,” And said he would expect “the ChatGPT moment for general robotics is just around the corner,” With a shout out to Chinese electric vehicle manufacturer XPeng and ridesharing giant Uber as Cosmos’ early adopters.
“The autonomous vehicle revolution is here,” Huang highlighted the partnerships between Toyota (TM) as well as Aurora Innovations (AUR) in autonomous driving.
Analysts Call Nvidia a ‘Top Pick’ on Its ‘AI Dominance’
Bank of America analysts referred to Nvidia as a “disaster” after the conference. “top pick,” Citing its “continued AI dominance” The reach of the company is expanding across all segments, including consumer and business.
According to analysts, “buy” Rating and $190 target price. This is a 35% increase over the intraday stock price after it nearly tripled in 2024.
The analysts are not alone in their optimism about Nvidia. Visible Alpha tracks 21 analysts, but only one is bullish on the company’s stock. “buy” As of Tuesday, the consensus target price was $177. This implies a 25% increase.
Wedbush analysts who wrote the Monday event “felt more like a rock concert vibe than a tech CEO speech,” Nvidia could see another $1 trillion in revenue from the autonomous and robotics tech markets over the coming years.
They projected Nvidia’s market value to exceed $4 trillion, and could even hit $5 trillion in the next year and half—levels no company has reached yet. The market capitalisation of this company is currently around $3.5 trillion.
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