Nvidia (NVDA) stock rose as much as 2.5% early Tuesday after CEO Jensen Huang’s keynote at the technology industry’s annual CES trade show in Las Vegas late Monday, putting the stock on track to expand… Gains after achieving a record closing level at the beginning of the week.
Huang’s presentation provided a series of updates on upcoming Nvidia products that preview what’s next in the booming market for artificial intelligence and other emerging technologies.
The biggest update from the AI chip maker was a new pint-sized AI superchip called the GB10 used in the (also new) client supercomputer.
The supercomputer – which is about the size of an average office – is part of Nvidia project numbers Announced Monday, and announced to developers, researchers, and students, the device will be available in May for $3,000.
Nvidia shares closed at a record high of $149.43 on Tuesday before Huang’s keynote, surpassing their previous record close of $148.88 reached on November 7.
Analysts at Stifel, Wedbush and Truist Securities on Tuesday reiterated their buy ratings on the stock. On average, Wall Street analysts tracked by Yahoo Finance see Nvidia shares rising to $172.80 over the next 12 months.
Nvidia also revealed major updates to its robotics strategy. The chip giant has debuted its Cosmos platform with AI models for developing humanoid robots as well as autonomous vehicles.
Wedbush and Nvidia Bull analyst Dan Ives said he sees autonomous robotics and technology as a trillion-dollar market for the company. Huang set that number higher in his keynote, saying that autonomous driving technologies alone “will likely be the first multi-trillion-dollar robotics industry.”
Additionally, Nvidia showcased its new Blackwell generation gaming GPUs (graphics processing units) and applications for developers to launch their own custom AI agents. Yahoo Finance’s Dan Hawley reports that Nvidia could debut a successor to its Blackwell-generation AI chips during its GTC conference in March.
“The company continues to position itself more favorably — not just in the data center but increasingly in all areas of the edge — from client computing to autonomous vehicles to robotics — which supports revenue growth and our buy rating on the stock,” Truist wrote. Securities analyst William Stein said in a note to investors Tuesday morning.
Laura Bratton is a reporter for Yahoo Finance. Follow her on X @LauraBratton5.
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