NVDA Stock Enjoys AI-Fueled Surge

While Keybanc’s upgrade may seem early, according to many tech analysts, it’s not wrong. Indeed, NVDA stock is already up more than 100% so far this year, climbing from $143 in January to its current level. Few tech companies have caught ahold of the AI wave as well as Nvidia. That doesn’t seem to be changing anytime soon.

Nvidia’s AI applications have largely overshadowed even its historically strong performing gaming GPUs. Nvidia chips — especially its data center-designed H100 chip line — are apparently extremely conducive to generative AI. That is, AI using text, image and video to produce its own content. As such, many view Nvidia as a destined winner of the current AI race.

“Nvidia remains uniquely positioned to benefit from AI/ML secular data center growth within the industry,” Vinh wrote according to Barron’s.